Income Tax

Permanent Account Number- How to Acquire Application Form for Duplicate PAN Card 2 min read

• Income Tax

Permanent Account Number- How to Acquire Application Form for Duplicate PAN Card

Aditijh 9 years ago

Permanent Account Number (PAN) Card is an ID card issued to the Indian citizens by the Indian Income Tax Department. This PAN Card has got... Read More

Provisions relating to search and seizure under the Income Tax Act 4 min read

• Income Tax

Provisions relating to search and seizure under the Income Tax Act

9 years ago

  Section 132 of the Income Tax Act deals with the provisions relating to search and seizure. Search and seizure involve serious invasion of one’s... Read More

Allotment of shares of a new corporate body cannot be taxed under the head “income from other sources” 4 min read

• Income Tax

Allotment of shares of a new corporate body cannot be taxed under the head “income from other sources”

9 years ago

The Mumbai Income Tax Appellate Tribunal held in a recent judgment that the allotment of shares at premium by a newly incorporated company should not... Read More

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment 2 min read

• Income Tax

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment

Aditijh 9 years ago

The structure of the India Tax system is quite simple, detailed but differentiable in power among State, Central, and other local governments. There are some... Read More

How to evaluate fixed maturity plans? 2 min read

• Income Tax

How to evaluate fixed maturity plans?

9 years ago

Fixed maturity plans are often considered as alternatives to banks but they are not so popular with investors due to lack of clarity on the... Read More

Getting income tax refunds from tax ombudsman 2 min read

• Income Tax

Getting income tax refunds from tax ombudsman

9 years ago

Most unfortunately in India many of the honest tax payers have pending income tax refunds. Either it is due to the delay on behalf of... Read More

Interest on NPAs and Stick Loans is not taxable according to prudential norms

• Income Tax

Interest on NPAs and Stick Loans is not taxable according to prudential norms

9 years ago

NO TDS ON PROVISION IS REQUIRED TO BE DEDUCTED IF PAYEE IS NOT IDENTIFIED 3 min read

• Income Tax

NO TDS ON PROVISION IS REQUIRED TO BE DEDUCTED IF PAYEE IS NOT IDENTIFIED

9 years ago

Citation of Case Law: M/s Dishnet Wireless Limited vs. DCIT (ITAT Chennai) I.T.A. Nos.320 to 329/Mds/2014, pronounced on 20.07.2015. Brief of Case: Assessee is Telecom... Read More

Consequences of non-filing or late-filing of TDS return 2 min read

• Income Tax

Consequences of non-filing or late-filing of TDS return

9 years ago

The Central Board of Direct Taxes (CBDT) has ordered all the income tax offices to penalize employers who deduct TDS but do not deposit them.... Read More

TDS Credit cannot be denied on the ground of Form 26AS mismatch

• Income Tax

TDS Credit cannot be denied on the ground of Form 26AS mismatch

9 years ago