Consequences of Non-filing of I.T. Return in Time
If a man escapes a taxable income his income is considered as black money and he is accountable for that. Let us see the Consequences... Read More
Manager
“mens rea” an essential factor — We all want to know about “mens rea” an essential factor for levy of penalty or not. The debate... Read More
Does loan transaction between a firm and its partner attract provisions of section 269SS?
2 min read
The question was raised as to whether a loan transaction between a firm and its partner attracts the provision of Section 269SS of the Income... Read More
Foreign asset holders beware!! Income Department sending notices to catch defaulters
By CA Pratik Anand, ACA Foreign Account holders beware; the Income Tax department has started issuing notices to persons having foreign assets about the disclosures... Read More
What if you are caught with tax evasion?
3 min read
Tax Evasion Every year the government makes repeated appeals and reminders to the tax payers through all possible media. Caught with Tax Evasion. There are... Read More
The clause (iii) of the section 17(3)
2 min read
According to clause (iii) of Section 17(3), profits or benefits in lieu of salary” includes: (A) Any amount due to and/or received by any person... Read More
When NRIs need to pay income tax in India?
2 min read
The Income Tax Act has not defined NRI directly. We need to know when NRIs need to pay income tax in India. Section 6 of... Read More
Tax evasion can land you in deep trouble
5 min read
Individuals have the liberty to self assess their income and pay taxes accordingly. However that does not mean that if someone conceals a particular source... Read More
Choosing the best car loan option
2 min read
Car is not only a status symbol, but it is also a necessity, especially in metro cities, where you have to regularly travel to far... Read More
A rectification application is maintainable based upon a subsequent decision of the Apex Court
3 min read
The Allahabad High Court declares that a rectification application under the provisions of the Income Tax Act based on a subsequent decision of the Apex... Read More
Diving Deeper: The Impact of the New Tax Bill on Dairy and Farming Income 
Bombay High Court Upholds Section 271(1)(c) Penalty for Deliberate Non-Disclosure 
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act 
Major Changes Expected in Direct Tax Code 2025 and why these matter