Income Tax

An overview on personal loan 2 min read

• Income Tax

An overview on personal loan

Manager 9 years ago

There are many who need extra amount once in a while to tide over the period of financial crisis. The amount is not necessarily for... Read More

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income 4 min read

• Income Tax

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income

Manager 9 years ago

The present explanation 4, which is proposed to be substituted by the Finance Bill,2015, states that for the purposes of clause (iii) of section 271(1),... Read More

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied 2 min read

• Income Tax

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied

Manager 9 years ago

The ITAT Delhi in the case of Income Tax Officer vs. Vartman Securities & Services Pvt. Ltd., 2014 (12) TMI 552, has held that where... Read More

Investigation under the provisions of the Income Tax Act 3 min read

• Income Tax

Investigation under the provisions of the Income Tax Act

Manager 9 years ago

According to the Oxford English Dictionary, the term “investigation” refers to “the official examination of the facts regarding a situation or a crime.” For the... Read More

Is Tax Evasion an Illegal Act in India? 2 min read

• Income Tax

Is Tax Evasion an Illegal Act in India?

Manager 9 years ago

Tax planning is an important aspect for conducting any business as well as for salaried persons. But at times it gives rise to “tax avoidance”... Read More

Insurance policy- good or bad 2 min read

• Income Tax

Insurance policy- good or bad

Manager 9 years ago

Buying life insurance-both life and general can be tricky. The wide range of policies available in the life insurance sector creates confusion in the mind... 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

Manager 9 years ago

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 some international... Read More

Are the properties purchased from NRIs subjected to TDS? 2 min read

• Income Tax

Are the properties purchased from NRIs subjected to TDS?

Manager 9 years ago

Tax has to be deducted at source when someone makes payment to a NRI vendor for purchasing a property. Non-deduction of tax at source at the time... Read More

Deemed Dividend under section 2(22) explained 3 min read

• Income Tax

Deemed Dividend under section 2(22) explained

Manager 9 years ago

Deemed dividend under section 2(22) from an Indian company or any dividend that is received from a foreign company is taxable in the hands of... Read More

Glimpses of the Black Money Bill 3 min read

• Income Tax

Glimpses of the Black Money Bill

Manager 9 years ago

The government has recently introduced the Undisclosed Foreign Income and Assets Bill, 2015, commonly known as the Black Money Bill. The income tax department has... Read More