Income Tax

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated 3 min read

• Income Tax

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated

Manager 9 years ago

The ITAT, Delhi in the case of Assistant Commissioner of Income Tax vs. Vijay Singh Kadan, Legal Heir of Late Shri Randhir Singh Kadan, 2014... Read More

Can forming a HUF help in saving taxes? 6 min read

• Income Tax

Can forming a HUF help in saving taxes?

Manager 9 years ago

A Hindu Joint Family or a HUF gives specific advantages regarding taxation. The Income Tax Act and the Wealth Tax Act recognize HUF as an... Read More

Tax Treatment of Earnest Money Forfieted 2 min read

• Income Tax

Tax Treatment of Earnest Money Forfieted

Manager 9 years ago

What is earnest money? When someone purchases or sells an immovable property, normally the purchaser gives an amount of earnest money before he makes the... Read More

All about Intra Day trading 2 min read

• Income Tax

All about Intra Day trading

Manager 9 years ago

All about Intra Day trading An insight into Intra Day Trading The common name for Intra Day Trading is “Day Trading”.  Here, a trader acquires... Read More

Is Prosecution the Best Deterrance for Tax Evasion? 2 min read

• Income Tax

Is Prosecution the Best Deterrance for Tax Evasion?

Manager 9 years ago

An interesting issue at present is whether criminal prosecution is an effective deterrence for tax evasion in India. Does the Government actually consider that prosecution... Read More

The legal implications of sham transactions 4 min read

• Income Tax

The legal implications of sham transactions

Manager 9 years ago

A sham transaction is a business deal entered into parties for the purpose of deception, like to escape a tax liability or in other words... Read More

Purpose of Scrutiny Assessment as per the IT Act 3 min read

• Income Tax

Purpose of Scrutiny Assessment as per the IT Act

Manager 9 years ago

The cases that are selected for scrutiny are enquired into by the assessing officer who conducts required enquiries during the course of assessment proceedings with... Read More

One can avail Deductions for both House Rent Allowance and Home Loan 2 min read

• Income Tax

One can avail Deductions for both House Rent Allowance and Home Loan

Manager 9 years ago

A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More

Tax Planning Tips for the Year2012-13 2 min read

• Income Tax

Tax Planning Tips for the Year2012-13

Manager 9 years ago

Tax planning is very crucial now-a-days. An intelligent thinking can be of great help and can assist a lot to avoid paying huge amount of... Read More

Implications of mentioning wrong section in TDS challan 2 min read

• Income Tax

Implications of mentioning wrong section in TDS challan

9 years ago

The ITAT, Jaipur in the case of Income Tax Officer, TDS, Alwar vs. LIC of India , 2015 (10) TMI 2439 , has held that... Read More