Income Tax

Can one use the provisions of RTI to solve income tax issues? 3 min read

• Income Tax

Can one use the provisions of RTI to solve income tax issues?

Manager 9 years ago

The Right to Information Act (RTI Act) which became effective from 12.10.2005 is a simple but very powerful legislation. It has helped the rights of... Read More

Tax Deduction at Source when Purchasing and Buying Immovable Property 3 min read

• Income Tax

Tax Deduction at Source when Purchasing and Buying Immovable Property

Manager 9 years ago

Section 194-IA states that any person, being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of... Read More

One can avail Deductions for both House rent Allowance and Home Loan 2 min read

• Income Tax

One can avail Deductions for both House rent Allowance and Home Loan

Manager 9 years ago

A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More

Taxability of Agricultural Income 3 min read

• Income Tax

Taxability of Agricultural Income

Manager 9 years ago

Agricultural Income – defined: According to the provisions of the Income Tax Act, any income earned from any of the three following three sources are... Read More

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A 4 min read

• Income Tax

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A

9 years ago

The ITAT Mumbai in the case of Sumanlata Bansal( PAN- AAHPB0141N) vs. the Assistant Commissioner of Income Tax, Central Circle 8 Mumbai, ITA nos. 525... Read More

Share application money cannot be considered as undisclosed income if identity of the share applicants is available 3 min read

• Income Tax

Share application money cannot be considered as undisclosed income if identity of the share applicants is available

9 years ago

The Hon’ble Delhi High Court on 12.8.15 in the cases of Commissioner of Income Tax – 9 (Appellant) vs. Vrindavan Farms (P) Ltd. (Respondent) being... Read More

How to Lodge Complaint Against Illegal Behavior of Assessing Officers? 2 min read

• Income Tax

How to Lodge Complaint Against Illegal Behavior of Assessing Officers?

9 years ago

It is not that always the assessee who is wrong. At times, the behavior and the attitude of the Assessing Officers and other staff of... Read More

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013 2 min read

• Income Tax

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013

9 years ago

Recently some circulars have been issued regarding the amendments introduced by the Finance Act, 2013, for offences punishable under the provisions of Service Tax, Central... Read More

No disallowance for non-deduction of TDS if the receiver has paid income tax on the same 3 min read

• Income Tax

No disallowance for non-deduction of TDS if the receiver has paid income tax on the same

9 years ago

The Hon’ble Income Tax Appellate Tribunal, Agra Bench (Agra) in the case of Rajeev Kumar Agarwal vs. Additional Commissioner of Income Tax (ITA No. 337/Agra/2013)... Read More

Rates of Income Tax and TDS for past 10 years 2 min read

• Income Tax

Rates of Income Tax and TDS for past 10 years

9 years ago

Companies must start calculating the payable tax amount for every year and start deducting tax from the salary of the employees at an average rate.... Read More