Income Tax

Are You Eligible For Income Tax Rebate U/S 87A 2 min read

• Income Tax

Are You Eligible For Income Tax Rebate U/S 87A

11 years ago

In budget 2013-14, taxpayers’ focus was on Section 87A. This section is added in Income Tax act 1961 for the benefit of common man. Section... 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 11 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

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved 2 min read

• Income Tax

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved

Aditijh 11 years ago

The case between Indian Income Tax vs. Dalmia Dyechem Industries: – It seems that the section 271 1 c states that any kind of penalty... Read More

Long Term Capital Gains computation and tax rates 2 min read

• Income Tax

Long Term Capital Gains computation and tax rates

Manager 11 years ago

In simple layman terms capital gains as the name suggests is a type of monetary gain which has been acquired from various types of capital... Read More

F& O transactions are non-speculative business transactions 3 min read

• Income Tax

F& O transactions are non-speculative business transactions

Manager 11 years ago

Taxpayers in India whether they are salaried people or not, prefer to involve themselves in share trading as it is an easy way of earning... Read More

Ways of Reducing TDS 2 min read

• Income Tax

Ways of Reducing TDS

Manager 11 years ago

Ways of Reducing TDS The process of TDS on salary is very confusing for many people having knowledge about Income Tax return. There are some... Read More

Beware of Lottery Scams 2 min read

• Income Tax

Beware of Lottery Scams

Manager 11 years ago

Today it is very common to receive lottery scam emails which notify you that you have won some prize in a lottery with the promise of... 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

Manager 11 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

Income Tax Department launches Toll-free line for complaints related to black money in elections 2 min read

• Income Tax

Income Tax Department launches Toll-free line for complaints related to black money in elections

Manager 11 years ago

In the run up to the upcoming Assembly polls in Delhi, the Income Tax Department has launched a Toll-free number – 1800 110 132 –... Read More

Set off of losses under the income tax laws 5 min read

• Income Tax

Set off of losses under the income tax laws

Manager 11 years ago

Though business aims to make income, there is always a possibility of incurring loss. On the basis of the principles of natural justice, a set-off... Read More