Income Tax

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

File your Wealth Tax Return online 3 min read

• Income Tax

File your Wealth Tax Return online

9 years ago

The Wealth Tax Act is an important legislation related to tax, which came into force on and from 1.4.1957. Wealth tax is levied on the... 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

9 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

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs 10 min read

• Income Tax

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs

9 years ago

New forms, additional information, completely paperless filing…. the Finance Ministry has introduced several changes in the way taxpayers will file their returns this year. As... Read More