Income tax act

What is Carrying Forward and Setting Off of Losses under Income Tax Act? 4 min read

• Income Tax

What is Carrying Forward and Setting Off of Losses under Income Tax Act?

Shobha Vats 5 years ago

In finance, profit and loss always play a part in an individual’s life. Every time you won’t achieve the profits. Sometimes you may incur losses... Read More

INCOME TAX INFORMANTS REWARD SCHEME 2018 5 min read

• Income Tax

INCOME TAX INFORMANTS REWARD SCHEME 2018

Diksha Garg 5 years ago

A new reward scheme has been introduced in supersession of the ‘Guidelines for grant of rewards to Informants, 2007’ and various existing guidelines on the... Read More

Life Insurance Policy Payouts – Are they Taxable or Not? 3 min read

• Insurance

Life Insurance Policy Payouts – Are they Taxable or Not?

Diksha Garg 5 years ago

The basic idea about life insurance policies is that they are tax-free. But this might be subject to conditions and/or exceptions. In order to utilize... Read More

Section 195 – TDS for Non-Resident Indians 3 min read

• Income Tax

Section 195 – TDS for Non-Resident Indians

Diksha Garg 5 years ago

Section 195 of the Income Tax Act, 1961, is all about the Tax Deducted at Source (TDS) for Non-Resident Indians. This section basically highlights the... Read More

A Defect in The Notice – Does it invalidate the Penalty Proceedings? 2 min read

• Income Tax

A Defect in The Notice – Does it invalidate the Penalty Proceedings?

Diksha Garg 5 years ago

The Income Tax Appellate Tribunal’s (ITAT) Jaipur bench has held that the complete proceeding against the assessee would be nullified in case of a defect... Read More

FAQs about IRS Tax Regulations on Online Entrepreneurs 5 min read

• Income Tax

FAQs about IRS Tax Regulations on Online Entrepreneurs

Rajbir Chawla 6 years ago

Does Tax-free Work Online? If you are an entrepreneur having an online presence instead of a physical location can save you a pretty penny when... Read More

Buying a Flat? The Date of Acquisition must Be the Primary Concern 3 min read

• Income Tax

Buying a Flat? The Date of Acquisition must Be the Primary Concern

Rebecca Ghomes 7 years ago

Investing in realty property is becoming a lucrative business. With the realty business growing in such vigor that everyone is trying their hands on it.... Read More

What to do if you are summoned by the Assessing Officer in the Income Tax Department for a reassessment? 3 min read

• Income Tax

What to do if you are summoned by the Assessing Officer in the Income Tax Department for a reassessment?

Rebecca Ghomes 7 years ago

You may fall into a situation after filing your returns, where you are summoned by the Assessing Officer in the Income Tax Department for a... Read More

Are you filing your tax in the right way- A quick guide to the basic parts of the Income Tax Act 3 min read

• Income Tax

Are you filing your tax in the right way- A quick guide to the basic parts of the Income Tax Act

Rebecca Ghomes 7 years ago

Filing your income tax returns can be a tricky business. This is why there are CAs and audit firms to help you out. But this... Read More

A trust which is solely for the benefit on an individual could claim deduction under section 54F 3 min read

• Income Tax

A trust which is solely for the benefit on an individual could claim deduction under section 54F

Sourav 8 years ago

The Issue arose before the ITAT is that whether the assessee trust, which is only for the benefit of an individual, will be eligible to... Read More