Income Tax

All about income tax scrutiny 3 min read

• Income Tax

All about income tax scrutiny

9 years ago

It is practically not possible for the Income Tax Department to make regular assessment of all the returns filed before them in any assessment year.... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

9 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Set off of unabsorbed depreciation 1 min read

• Income Tax

Set off of unabsorbed depreciation

Manager 9 years ago

Set off of unabsorbed depreciation    ... Read More

Procedure of calculating Wealth Tax 2 min read

• Income Tax

Procedure of calculating Wealth Tax

Manager 9 years ago

Procedure of calculating Wealth Tax Wealth tax is not payable on income but payable only because a person is wealthy. Wealth tax is levied when... Read More

How to rectify an income Tax Return filed by an assessee? 2 min read

• Income Tax

How to rectify an income Tax Return filed by an assessee?

Manager 9 years ago

After filling an Income Tax Return, the department verifies the same by going through the information given by the assessee in his return of income.... Read More

Privacy Policy

• Income Tax

Privacy Policy

Manager 9 years ago

Download Acts 1 min read

• Income Tax

Download Acts

Manager 9 years ago

Download Income Tax Act Download Wealth Tax Act            ... Read More

Can seized cash be adjusted against advance tax? 2 min read

• Income Tax

Can seized cash be adjusted against advance tax?

Manager 9 years ago

The Finance Bill, 2013 has inserted an Explanation to section 132B of Income Tax Act, 1961, which states that the “existing liability” does not include... Read More

Income Tax Department targets tax evaders 2 min read

• Income Tax

Income Tax Department targets tax evaders

Manager 9 years ago

The Income Tax department has undertaken an intelligence project to spot those PAN holders who have not filed income tax returns and regarding whom information... Read More

Does disallowance of a claim for expenses amount to furnishing incorrect details of income? 3 min read

• Income Tax

Does disallowance of a claim for expenses amount to furnishing incorrect details of income?

Manager 9 years ago

The Income Tax Act aims to protect the interest of the Revenue against furnishing incorrect details of income in the return of the assessee. Many... Read More