Sourav

Taxpayers jitters with extensive search and seizure powers to Assessing Officers 3 min read

• Income Tax

Taxpayers jitters with extensive search and seizure powers to Assessing Officers

Sourav 8 years ago

The amendments and changes in the procedural rules including changes in search and seizure provisions in Income Tax Act have had the consequence of setting... Read More

undisclosed income found during search/survey to be distributed to members of the family running the business 2 min read

• Income Tax

undisclosed income found during search/survey to be distributed to members of the family running the business

Sourav 8 years ago

Section 132 of the Income Tax: It is but natural that the undisclosed income found during search/survey has to be distributed to all the members... Read More

Warrant in name of a dead person does’t make 158BC/158BD proceedings invalid: Gunjan Girishbhai Mehta vs. DIT (Supreme Court) 2 min read

• Income Tax

Warrant in name of a dead person does’t make 158BC/158BD proceedings invalid: Gunjan Girishbhai Mehta vs. DIT (Supreme Court)

Sourav 8 years ago

Where the assessee has attended proceedings under section158BC, are subsequent actions inder 158BD invalid if warrant is in name of dead person... Read More

Finance Bill: Empowering tax officials for curbing black money 2 min read

• Income Tax

Finance Bill: Empowering tax officials for curbing black money

Sourav 8 years ago

The countdown has begun. From the 1st of April, 2017 the Central Govt.’s steps for curbing black money is going to be more and more... Read More

No more fake rent receipts for claiming deduction for house rent allowance 2 min read

• Income Tax

No more fake rent receipts for claiming deduction for house rent allowance

Sourav 8 years ago

You might find yourself in trouble soon if who have been using the fake rent receipts for saving income tax. The department might soon ask... Read More

Section 269ST: A major step towards cashless economy 3 min read

• Income Tax

Section 269ST: A major step towards cashless economy

Sourav 8 years ago

Amidst the widespread effect of the demonetization which was quite fresh in the cognizance of the people, Union Budget 2017 announced a loud message which... Read More

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns 4 min read

• Income Tax

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns

Sourav 8 years ago

The Income Tax Department officials would now seek the details of all deposits done by the assessee during the period of demonetization as a part... Read More

Common mistakes to avoid while filing income tax returns 3 min read

• Income Tax

Common mistakes to avoid while filing income tax returns

Sourav 8 years ago

The season for filling the Income Tax return is back. Everyone whose income is above INR 5 lakhs are required to mandatory e-file their income... Read More

Whether remission of loan can be assessed as income under section 41(1) for the purposes of MAT 4 min read

• Income Tax

Whether remission of loan can be assessed as income under section 41(1) for the purposes of MAT

Sourav 8 years ago

Section 41(1)/ 115JB of the IT ACT: The Entire provision contained under the law clarified whether the remission of loan can be assessed as income... Read More

Last date to file Belated Return of Income Tax – Assessment Year 2017-18 4 min read

• Income Tax

Last date to file Belated Return of Income Tax – Assessment Year 2017-18

Sourav 8 years ago

The due date for filing the return of income is stated in Section 139(1) of the Income Tax Act, 1961. As per the section 139(1),... Read More