Income Tax

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

Manager 10 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

A summary on section 263 of the Income Tax Act 3 min read

• Income Tax

A summary on section 263 of the Income Tax Act

Manager 10 years ago

Section 263 of the Income Tax Act deals with the powers given to the Commissioner of Income tax to ask for and check the records... Read More

An Assessing Officer should help the tax payers in a reasonable manner 2 min read

• Income Tax

An Assessing Officer should help the tax payers in a reasonable manner

Manager 10 years ago

The Income Tax Appellate Tribunal in Shri Paramjeet Singh Chhabra vs. Income Tax Officer 1(2) being ITA No. 1 12/Ind/2013 (for the A.Y. 2005-06) by... Read More

Tax Issues of NRIs returning to India 2 min read

• Income Tax

Tax Issues of NRIs returning to India

Manager 10 years ago

While staying and working abroad, some people having Indian origin decide to return to India for the purpose of reuniting with their family. At times... Read More

Partial Disbursement of Home Loan and Tax Benefits 3 min read

• Income Tax

Partial Disbursement of Home Loan and Tax Benefits

Manager 10 years ago

To understand the tax treatment of getting exemptions under home loan that have been partially received or disbursed by the bank, it is necessary to... Read More

How to tackle an income tax raid? 2 min read

• Income Tax

How to tackle an income tax raid?

Manager 10 years ago

The term “Raid” in laws relating to Income Tax is an unexpected encounter with the income tax department which people are normally very afraid of.... Read More

Mere cash deposit of more than Rs 10 lakhs in bank doesn’t indicate income has escaped Taxation: ITAT 11 min read

• Income Tax

Mere cash deposit of more than Rs 10 lakhs in bank doesn’t indicate income has escaped Taxation: ITAT

Manager 10 years ago

The assessee had deposited cash in excess of Rs 10 lakhs in his saving bank account but he had not filed return of income. The... Read More

CBDT issues instruction to help the conduct of scrutiny assessments 3 min read

• Income Tax

CBDT issues instruction to help the conduct of scrutiny assessments

10 years ago

The CBDT has issued an Instruction being No. 20/2015 on 29.12.2015 wherein it has clarified many issues to help the conduct of scrutiny assessments in... Read More

Is there a Waiver in Arrears of Penalty for Deceased Individuals? 2 min read

• Income Tax

Is there a Waiver in Arrears of Penalty for Deceased Individuals?

10 years ago

The proposition There are various corporate laws, which are applicable on any working individual. However, certain issues have been missing in those laws. Recently, a... Read More

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

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART II

10 years ago

Continued from Provision Of Reassessment Under Income Tax Act 1961- PART I Case Situation 3 In case, the assessee has to file u/s 92 E reports against... Read More