Sourav

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour 3 min read

• Income Tax

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour

Sourav 8 years ago

If you have got any credit in Bank account, that may not necessarily be an explained income. In some cases even if the assessee has... Read More

Transfer of assets of partnership firm among the partners on retirement not subject to Capital Gains Tax 3 min read

• Income Tax

Transfer of assets of partnership firm among the partners on retirement not subject to Capital Gains Tax

Sourav 8 years ago

As is renowned in income-tax forums, there is a lot of disagreement regarding the interpretation of section 45(4) of the Income-Tax Act, 1961. As per section... Read More

Income Tax Benefits against repayment of Home Loan principal and Interest- Loan taken jointly or in single name 3 min read

• Income Tax

Income Tax Benefits against repayment of Home Loan principal and Interest- Loan taken jointly or in single name

Sourav 8 years ago

While taking a home loan one should keep in mind certain Income Tax Benefits against repayment of home loan. Repayment of Home Loan can be... Read More

Filing Return of Income Tax in ITR2 ?- Here is Guide to Filing Return form ITR 2 Online 7 min read

• Income Tax

Filing Return of Income Tax in ITR2 ?- Here is Guide to Filing Return form ITR 2 Online

Sourav 8 years ago

ITR-2 is the income tax return form for people having taxable income from salaries, investments, House Property and capital Gain etc. These investments could be... Read More

Reassessment under Section 147 for increase in revenue due to demonetization 2 min read

• Income Tax

Reassessment under Section 147 for increase in revenue due to demonetization

Sourav 8 years ago

The Government of India for curbing the black economy has stimulated people for shifting towards the digital payment mode for their financial transactions using net... Read More

Section 80E – Interest on Education Loan- Conditions and Limit of Deduction 2 min read

• Income Tax

Section 80E – Interest on Education Loan- Conditions and Limit of Deduction

Sourav 8 years ago

When you take an education loan for the higher studies, then the deduction is allowed towards interest on educational loan u/s 80E of the Income... Read More

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny 3 min read

• Income Tax

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny

Sourav 8 years ago

It’s the first time in the Indian history that the income tax department, India will be using big data analytical tools to seek through the personal... Read More

Process of deduction of TDS on payments to NRI (Non-Resident Indians) 5 min read

• Income Tax

Process of deduction of TDS on payments to NRI (Non-Resident Indians)

Sourav 8 years ago

TDS is the first step of payment of income tax to the income tax authorities. Among all the TDS sections only some of them should... Read More

Understanding the Income Tax return form -ITR(1) (Sahaj) 2 min read

• Income Tax

Understanding the Income Tax return form -ITR(1) (Sahaj)

Sourav 8 years ago

The Income Tax Return Form -ITR(1) is can be used by an individual whose total income includes the followings:- Income from Salary/ Pension; or Income... Read More

Reopening of cases by Assessing Officer for Income Escaping Assessment 4 min read

• Income Tax

Reopening of cases by Assessing Officer for Income Escaping Assessment

Sourav 8 years ago

As per the provisions of section 147 and section 148 of the Income Tax Act the Assessing Officer can reopen the assessment of earlier years,... Read More