Sourav

Rectification of Income Tax Return U/s 154 of Income Tax Act 2 min read

• Income Tax

Rectification of Income Tax Return U/s 154 of Income Tax Act

Sourav 8 years ago

Application for Request for rectification of Income Tax return u/s 154can be filed u/s 154 of the IT Act, by the assessee in case of... Read More

Why you need to Hire a Tax Professional to file your Income Tax returns 4 min read

• Income Tax

Why you need to Hire a Tax Professional to file your Income Tax returns

Sourav 8 years ago

If maintaining the books and following the numbers simply isn’t your forte, please appoint some professional to help you file your income tax returns. There... Read More

Deductions under Section 80G & 80GG 2 min read

• Income Tax

Deductions under Section 80G & 80GG

Sourav 8 years ago

Deductions under Section 80G To encourage the concept of donations or charity towards the needy and the poor section of the society, the government of... Read More

The New Income Declaration Scheme – Another Chance to disclose unaccounted money 2 min read

• Income Tax

The New Income Declaration Scheme – Another Chance to disclose unaccounted money

Sourav 8 years ago

The government has introduced the new income declaration scheme in the Lok Sabha, to give the black money hoarders a further opportunity to disclose their... Read More

Revision of Tax Audit Report- Circumstances in which it can be revised and How to revise it 2 min read

• Income Tax

Revision of Tax Audit Report- Circumstances in which it can be revised and How to revise it

Sourav 8 years ago

The cases in which revision of tax audit report is done are often rare in real practice.    One should give due care and caution for... Read More

An Overview of Defective Return under Income Tax Act and its implications 3 min read

• Income Tax

An Overview of Defective Return under Income Tax Act and its implications

Sourav 8 years ago

A return shall be considered as a defective return unless it is accompanied by the following documents: A return in the prescribed form with all... Read More

Understanding Form 24Q, 26Q and 27Q for TDS Returns against Tax deducted at Source 3 min read

• Income Tax

Understanding Form 24Q, 26Q and 27Q for TDS Returns against Tax deducted at Source

Sourav 8 years ago

Tax Deducted at Source, or TDS as it called in short, is considered as a kind of advance tax. The legislature gets a specific tax... Read More

Intimation under Section 143(1) 5 min read

• Income Tax

Intimation under Section 143(1)

Sourav 8 years ago

On receiving the return filed u/s 139 or u/s 142 (1), the Income Tax Department processes the said return and sends an intimation under Section 143 (1)... Read More

Cessation and Remission of trading liabilitying Officer needs to investigate and bring on records the material before adding to the Income of assesse 4 min read

• Income Tax

Cessation and Remission of trading liabilitying Officer needs to investigate and bring on records the material before adding to the Income of assesse

Sourav 8 years ago

Facts of the Case-  as derived from the record are that in the course of assessment proceedings.  The A.O. found that the assessee’s balance sheet... Read More

Part 2 – Presumptive taxation Scheme 44AD, 44DA ; 44AE 5 min read

• Income Tax

Part 2 – Presumptive taxation Scheme 44AD, 44DA ; 44AE

Sourav 8 years ago

Applicability of Presumptive Taxation Scheme under section 44ADA: Presumptive Taxation scheme under section 44ADA designed for the small taxpayers who are engaged in providing professional... Read More