Manager

Income from stocks—business income or capital gains 1 min read

• Income Tax

Income from stocks—business income or capital gains

Manager 9 years ago

16th September: Is the return from share market being shown as business income or capital gains? Well, to remain safe, you may opt for having... Read More

CBDT to make scrutiny guidelines public 4 min read

• Income Tax

CBDT to make scrutiny guidelines public

Manager 9 years ago

The CBDT has issued an instruction on 02.09.2014 announcing that the criteria for selection of cases for scrutiny for the financial year 2014 -15 shall... Read More

The new Companies Bill aims to put a check upon the “Vanishing Companies” 2 min read

• Income Tax

The new Companies Bill aims to put a check upon the “Vanishing Companies”

Manager 9 years ago

The new Companies Bill seeks to promote class-action suits for corporate frauds. The bill has been passed by the Lok Sabha  in the year 2012. The... Read More

Share application money cannot be considered as undisclosed income if identity of the share applicants is available 3 min read

• Income Tax

Share application money cannot be considered as undisclosed income if identity of the share applicants is available

Manager 9 years ago

The Hon’ble Delhi High Court on 12.8.15 in the cases of Commissioner of Income Tax – 9 (Appellant) vs. Vrindavan Farms (P) Ltd. (Respondent) being... 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