Manager

Deductions on account of expenses on medical treatment under Section 80DDB 2 min read

• Income Tax

Deductions on account of expenses on medical treatment under Section 80DDB

Manager 9 years ago

One can avail deduction for expenses on account of medical treatment of himself or any of his dependents in case of some specified diseases like... Read More

Facts under which the Penalty may be void under Income Tax Act section 274 2 min read

• Income Tax

Facts under which the Penalty may be void under Income Tax Act section 274

Manager 9 years ago

Section 271 (1)(c)  is a penalty notice under section 274 in which the irrelevant portion is not stroke out and which does not also specify... Read More

Forms 15G and 15H – tools to save tax? 5 min read

• Income Tax

Forms 15G and 15H – tools to save tax?

Manager 9 years ago 6

Banks often ask depositors to file Form No. 15G or 15H every year. There are different rules regarding filing of Form No. 15G and Form... Read More

All about GST 3 min read

• Income Tax

All about GST

Manager 9 years ago

There are a huge number of different indirect taxes in India. The government is making plans to reform the present Indian indirect tax regime and... Read More

Assets installed in a discontinued business are too eligible for depreciation 4 min read

• Income Tax

Assets installed in a discontinued business are too eligible for depreciation

Manager 9 years ago

The Hon’ble Bombay High Court in the case of Commissioner of Income Tax¬ (Appellant) vs. Sonic Biochem Extractions Pvt. Ltd. (respondent) being ITA No. 2088... Read More

New changes in Service tax laws 4 min read

• Income Tax

New changes in Service tax laws

Manager 9 years ago

The Central Government has issued some new notifications for the year 2013-14 for implementation of few new rules in the field of Service Tax. The... Read More

Non-filing of income tax return may lead to prosecution as held by the Apex Court 2 min read

• Income Tax

Non-filing of income tax return may lead to prosecution as held by the Apex Court

Manager 9 years ago

The Apex Court in one of its recent judgment held that non-filing of income tax return may lead to prosecution under the Income Tax Act.... Read More

Blank cheques found during a search cannot be treated as unexplained investments 5 min read

• Income Tax

Blank cheques found during a search cannot be treated as unexplained investments

Manager 9 years ago

The ITAT, Hyderabad in the case of Sri Laxmi Narayan Agarwal (PAN: ACDPA7791B) vs. Asst. Commissioner of Income Tax, Circle-6(1), Hyderabad, I.T.A. No. 1392/HYD/2010 by... Read More

Ways of Reducing TDS 2 min read

• Income Tax

Ways of Reducing TDS

Manager 9 years ago

Ways of Reducing TDS The process of TDS on salary is very confusing for many people having knowledge about Income Tax return. There are some... Read More

Cost awarded against income tax department for abuse of process of law 2 min read

• Income Tax

Cost awarded against income tax department for abuse of process of law

Manager 9 years ago

The Bombay High Court in a recent case imposed a cost of Rs. 1, 00,000/- against the income tax department for abuse of process of... Read More