Income tax act

Share application money cannot be considered as undisclosed income if identity of the share applicants is available 3 min read

• Income Tax

Share application money cannot be considered as undisclosed income if identity of the share applicants is available

Manager 8 years ago

The Hon’ble Delhi High Court on 12.8.15 in the cases of Commissioner of Income Tax – 9 (Appellant) vs. Vrindavan Farms (P) Ltd. (Respondent) being... Read More

A searched person cannot be allowed to adjust Cash seized During Income Tax Raid with payment of advance tax 3 min read

• Income Tax

A searched person cannot be allowed to adjust Cash seized During Income Tax Raid with payment of advance tax

Rajbir Chawla 8 years ago

Treatment of Cash seized During Income Tax Raid The Finance Act, 2013 has introduced an explanation to section 132B which states that the ‘existing liability’ does... Read More

Entered Contract to Sell Property and Realized Money Later? What is Date of Recognition of Sale? 3 min read

• Income Tax

Entered Contract to Sell Property and Realized Money Later? What is Date of Recognition of Sale?

Rebecca Ghomes 8 years ago

Selling House Property? When is Date of Recognition of Sale for Tax Purposes Buying or selling of property is not a single day’s job, it’s a... Read More

Cross-linking Income Tax Act and GST 2 min read

• GST

Cross-linking Income Tax Act and GST

Sourav 8 years ago

Model GST Law, specifically Section 25 speaks about the furnishing details with respect to outward supplies. Further, Section 26 speaks about furnishing of details with... Read More

Assessment of Undisclosed Income in Income Tax Act u/s 133A 2 min read

• Income Tax

Assessment of Undisclosed Income in Income Tax Act u/s 133A

Sourav 8 years ago

This arrangement is similar to VDS (Voluntary Disclosure Scheme). This scheme is effective from 1st June 2016. Declaration of undisclosed income or assets could be... Read More

Ease in Strictness of Section 206AA – Dealing with Previous Issues 4 min read

• Income Tax

Ease in Strictness of Section 206AA – Dealing with Previous Issues

Anuj Mathur 8 years ago

Section 206AA was highly rigorous and confusing as it made mandatory to submit PAN number while submitting taxes. It created many controversies; especially in case... Read More

Good news for taxpayers- The much awaited e-nivaran project launched by CBDT 3 min read

• Income Tax

Good news for taxpayers- The much awaited e-nivaran project launched by CBDT

Garima Jalali 8 years ago

e-nivaran is the beginning of a new era in the Income Tax Department.  e-nivaran- a dream project of Indian Government and the Income Tax department has... Read More

The key to Tax Planning 3 min read

• Income Tax

The key to Tax Planning

Manager 8 years ago

Tax Planning deals with making investments for the purpose of reducing the tax liability and increasing returns. Let us know the key to tax planning... Read More

Changes in the law relating to levy of penalty in the Finance Bill, 2016 4 min read

• Income Tax

Changes in the law relating to levy of penalty in the Finance Bill, 2016

Manager 9 years ago

The Finance Bill, 2016 aims to make drastic changes to the law relating to levy of penalty for concealment of income and furnishing of incorrect... Read More