Manager

Investment Strategy in a Volatile Market 3 min read

• Stock Market and Investing

Investment Strategy in a Volatile Market

Manager 8 years ago

Volatile market Volatility refers to the fluctuations in the performance of the market. Here the prices of the stocks rise or fall sharply within a... Read More

No penalty under section 271(1) (c) in case of concealment of income due to “bonafide mistake” by an assessee 2 min read

• Income Tax

No penalty under section 271(1) (c) in case of concealment of income due to “bonafide mistake” by an assessee

Manager 9 years ago

The Assessing Office cannot levy a penalty under section 271(1) (c) due to a bonafide mistake on the part of an assessee. This was subsequently... Read More

Income Tax Department issues a format for Employee to declare his savings for Income Tax 1 min read

• Income Tax

Income Tax Department issues a format for Employee to declare his savings for Income Tax

Manager 9 years ago

Income Tax Department has made mandatory for employee to fill Form 12BB of income tax act and to share same with his employer  to consider the... Read More

Black Money: Award up to Rs.15 lakh for Information against Tax Evaders 3 min read

• Income Tax

Black Money: Award up to Rs.15 lakh for Information against Tax Evaders

Manager 9 years ago

The Black Money Menace in India Black money is a known as money earned from the market by various means for which none of the... Read More

If Assessing Officer fails to provide the reasons for reopening, the reassessment order is unsustainable in law 5 min read

• Income Tax

If Assessing Officer fails to provide the reasons for reopening, the reassessment order is unsustainable in law

Manager 9 years ago

The ITAT, Delhi Bench, New Delhi in the case of in Sri Inderjeet Sachdeva having PAN: ALFPS8175E vs. DCIT, Range-1, C/o M/s Shubham Nursing Home,... Read More

All about reverse charge mechanism 3 min read

• SERVICE TAX

All about reverse charge mechanism

Manager 9 years ago

Section 68 (1) of Chapter V of Finance Act, 1994 provides that every person who provides taxable service to any person shall have to pay... Read More

Changes in the law relating to levy of penalty in the Finance Bill, 2016 4 min read

• Income Tax

Changes in the law relating to levy of penalty in the Finance Bill, 2016

Manager 9 years ago

The Finance Bill, 2016 aims to make drastic changes to the law relating to levy of penalty for concealment of income and furnishing of incorrect... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

Manager 9 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... Read More

The onus to prove the genuineness of transactions is upon the assessee 2 min read

• Income Tax

The onus to prove the genuineness of transactions is upon the assessee

Manager 9 years ago

The ITAT, Chandigarh in the case of ITO, Ward-2, Panchkula vs. M/s C. Max Healthcare, 2016 (2) TMI 156 has held that in the absence... Read More

How to file an Electronic Audit Report? 2 min read

• Income Tax

How to file an Electronic Audit Report?

Manager 9 years ago

New e-filing site launched by the Income Tax department: The Income Tax department has begun a new e-filing website. Taxpayers can LOGIN at the website... Read More