Income Tax

Effects of Not Filing Income Tax Return in Time 2 min read

• Income Tax

Effects of Not Filing Income Tax Return in Time

Manager 9 years ago

Though filing of Income Tax return is voluntary but the Government of India has made the filing of return for any income which is taxable... Read More

New rules for e-filing of wealth tax returns 2 min read

• Income Tax

New rules for e-filing of wealth tax returns

Manager 9 years ago

The Income Tax Department had been amended the Wealth Tax Rules. The Central Board of Direct Taxes has recently framed new rules to amend the... Read More

Some tax exemptions which can make you liable to penalty 2 min read

• Income Tax

Some tax exemptions which can make you liable to penalty

Manager 9 years ago

In case you want to avail some income  tax exemptions, you have to fulfill some conditions. If you fail to do so, you might not be... Read More

Getting gifts from relatives? Learn the tax implications

• Income Tax

Getting gifts from relatives? Learn the tax implications

Manager 9 years ago

NRI liable to pay Income Tax on the income earned in India 2 min read

• Income Tax

NRI liable to pay Income Tax on the income earned in India

Manager 9 years ago

According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A? 3 min read

• Income Tax

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A?

Manager 9 years ago

The Finance Bill 2013 has incorporated a new section 194-IA in the Income Tax Act. According to the provision TDS at the rate of 1%... Read More

Can DTAA help NRIs to avoid double taxation? 2 min read

• Income Tax

Can DTAA help NRIs to avoid double taxation?

Manager 9 years ago

If you are an NRI and are moving abroad leaving behind sources of income, you need to pay tax on such earnings in India. It... Read More

Interest under section 234 A, B, C of the Income Tax Act 2 min read

• Income Tax

Interest under section 234 A, B, C of the Income Tax Act

9 years ago

Section 234 A, B, C of the Income Tax Act deals with the different penalty provisions for non-payment of Income Tax. Tax should be paid... Read More

On-Line Tax Accounting System Correction Scope and Procedure 3 min read

• Income Tax

On-Line Tax Accounting System Correction Scope and Procedure

9 years ago

The On-Line Tax Accounting System (OLTAS) was introduced in April 2004, for the accounting and reporting of receipts and payments of the Direct Taxes through... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

9 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More