Income Tax

When and How To Complain Against Assessing IT Officer 2 min read

• Income Tax

When and How To Complain Against Assessing IT Officer

9 years ago

It is not that always the income tax payer is on the wrong side. Sometimes, the behavior and the attitude of the income tax assessing... Read More

Deduction under Section 43B of the Income Tax Act 2 min read

• Income Tax

Deduction under Section 43B of the Income Tax Act

9 years ago

A deduction which is otherwise allowed as per the provisions of the Income Tax Act regarding — a)   Any amount which is payable by... Read More

Supreme Court passes judgment supporting penalty under section 271(1) (c) 2 min read

• Income Tax

Supreme Court passes judgment supporting penalty under section 271(1) (c)

9 years ago

Very recently, the Supreme Court in the case of MAK Data Pvt. Ltd. vs. CIT (C.A.No.9772 of 2003 ) passed the judgment in connection with section... Read More

Have you been served an income tax notice? Do not panic 4 min read

• Income Tax

Have you been served an income tax notice? Do not panic

9 years ago

Most of the taxpayers have little knowledge about a tax; as such they panic upon receiving a tax notice.  But instead of panicking, one should... Read More

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

9 years ago

In this hi-tech era, digitization has covered everything in financial market. How can EPFO stay behind? Now EPF investors can get all details of their... Read More

Law Relating to Tax on Gifts from Relatives 2 min read

• Income Tax

Law Relating to Tax on Gifts from Relatives

9 years ago

Many of us believe that gifts from relatives are exempted from tax. But many of us are ignorant of the fact that gifts received from... Read More

Penalty imposed for false claim of deduction under section 80IB 2 min read

• Income Tax

Penalty imposed for false claim of deduction under section 80IB

9 years ago

Where the assessee has made false claim for deduction under Section 801B of the Income Tax Act, penalty is levied under Section 271(1) (c) of... Read More

No disallowance for amounts already paid without TDS 4 min read

• Income Tax

No disallowance for amounts already paid without TDS

9 years ago

The ITAT Mumbai in the case of Jitendra Mansukhlal Shah, 191, Pilla Building, Nagdevi Street, Mumbai 400003 vs. Dy. Commissioner of Income Tax, Central Circle... Read More

No penalty under section 271(1) (c) can be levied on account of failure in deduction of TDS 3 min read

• Income Tax

No penalty under section 271(1) (c) can be levied on account of failure in deduction of TDS

9 years ago

The ITAT Mumbai in the case of Rushi Builders and Developers Hotel Bay View, Gorai Khadi, L. T. Road, Borivali (W), Mumbai – 400 091,... Read More

When profits received by business partners are not taxable in the hands of partners 2 min read

• Income Tax

When profits received by business partners are not taxable in the hands of partners

9 years ago

If a person is a partner of a firm that is separately assessed, his share of profit in the total income of the firm is... Read More