Income Tax

The Apex Court explains “religious or charitable purpose” for claiming exemption under Section 11 4 min read

• Income Tax

The Apex Court explains “religious or charitable purpose” for claiming exemption under Section 11

9 years ago

The Apex Court in the case of CIT vs. Dawoodi Bohara Jamat, Civil Appeal No. 2492 of 2014, on 20.2.2014 has held that a charitable... Read More

Law Relating to Gift Tax in India 2 min read

• Income Tax

Law Relating to Gift Tax in India

Manager 9 years ago

Law Relating to Gift Tax in India In the earlier times in India cash gifts of up to Rs 50,000 were tax free but if... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

How to file the income tax return of a deceased assessee?

Manager 9 years ago

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and... Read More

Facts under which the Penalty may be void under Income Tax Act section 274 2 min read

• Income Tax

Facts under which the Penalty may be void under Income Tax Act section 274

Manager 9 years ago

Section 271 (1)(c)  is a penalty notice under section 274 in which the irrelevant portion is not stroke out and which does not also specify... Read More

Secure Area

• Income Tax

Secure Area

Manager 9 years ago

Factors to be considered before selling a house before three years 2 min read

• Income Tax

Factors to be considered before selling a house before three years

Manager 9 years ago

One can earn a lot from the profit earned by selling a house. But if somebody sells a house before three years, such a sale... Read More

How to rectify a defective return? 2 min read

• Income Tax

How to rectify a defective return?

Manager 9 years ago

An Assessing Officer can call upon the assessee to rectify a defective return filed by him.  This is provided in section 139(9) of the Income... Read More

Having tax problems? Ask ombudsman for help 2 min read

• Income Tax

Having tax problems? Ask ombudsman for help

Manager 9 years ago

Are you struggling to get your refund from the Income Tax department? Are you been harassed many times for an income tax scrutiny for the past... Read More

TDS For Property Sale in India under Section 194-IA 2 min read

• Income Tax

TDS For Property Sale in India under Section 194-IA

Manager 9 years ago

TDS for Property Sale that is applicable from 1st June 2013 and is deducted at source on sale of immovable property including land and building... Read More

Chartered Accountants blamed for lower levy of taxes 2 min read

• Income Tax

Chartered Accountants blamed for lower levy of taxes

Manager 9 years ago

Recently a CAG report said the failure on behalf of the chartered accountants hired by the income tax department to furnish authentic tax information has... Read More