Income Tax

Black Money: Award up to Rs.15 lakh for information against tax evaders 2 min read

• Income Tax

Black Money: Award up to Rs.15 lakh for information against tax evaders

9 years ago

THE BLACK MONEY MENACE IN INDIA Black money is a known as money earned from the market by various means for which none of the... Read More

Online Rectification of errors in Income Tax Return 2 min read

• Income Tax

Online Rectification of errors in Income Tax Return

9 years ago

Section 154 of the Income Tax Act, 1961 gives power to an Assessing Officer to rectify an order due to any error apparent on record... Read More

No exemption of SAD on goods cleared from SEZ/FTWZ to DTA for self consumption and amendments in the Cenvat Credit Rules, 2004 and the Central Excise Rules, 2002 3 min read

• Income Tax

No exemption of SAD on goods cleared from SEZ/FTWZ to DTA for self consumption and amendments in the Cenvat Credit Rules, 2004 and the Central Excise Rules, 2002

9 years ago

The Central Board of Excise & Customs (“the Board”) has issued Circular No. 44/2013-Customs dated December 30, 2013 (“the Circular”) to provide clarification on whether... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

Aditijh 9 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... Read More

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

9 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

Offences under Chapter XXII of the Income Tax Act, 1961 5 min read

• Income Tax

Offences under Chapter XXII of the Income Tax Act, 1961

9 years ago

Chapter XII of the Income Tax Act, 1961 dealing with the offences is always important for anyone concerned about the law relating to Income Tax... Read More

Levy of Penalty U/S 271D 2 min read

• Income Tax

Levy of Penalty U/S 271D

9 years ago

Digitization has helped curb the way for online payments of most of the taxes in India. This way, individuals from urban and rural areas can... Read More

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

9 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

Interest payable to partners of a partnership firm under Section 40(b) 3 min read

• Income Tax

Interest payable to partners of a partnership firm under Section 40(b)

9 years ago

Section 40(b) of Income Tax Act, 1961 provides certain limitations on the deductions of expenses allowed to assessees being partnership firms regarding the remuneration and... Read More

When NRIs need to pay income tax in India? 2 min read

• Income Tax

When NRIs need to pay income tax in India?

Manager 9 years ago

The Income Tax Act has not defined NRI directly. Section 6 of the Act deals with the criteria of a Resident in India and states that anybody... Read More