Income Tax

Notification clarifying ‘genuine’ transactions for nil capital gains when no STT is paid 3 min read

• Income Tax

Notification clarifying ‘genuine’ transactions for nil capital gains when no STT is paid

Diksha Garg 7 years ago

CBDT or Central Board of Direct Taxes recently released a notification that the transactions which under the Section 10(38) of the Income Tax Act of... Read More

Can you become a GST practitioner in India? Eligibility and Process to become GST Practitioner 3 min read

• Income Tax

Can you become a GST practitioner in India? Eligibility and Process to become GST Practitioner

Rebecca Ghomes 7 years ago

GST is the biggest topic of discussion in India right now. This tax overhaul came with applaud and criticism alike, but there is no denying... Read More

Income Tax – Change of Assessing Officer and its Jurisdiction 3 min read

• Income Tax

Income Tax – Change of Assessing Officer and its Jurisdiction

Diksha Garg 7 years ago

Filing of income tax return is the statutory duty of every citizen of the country. In this regard assessee needs to interact with the income... Read More

What is The Reverse Charge Mechanism under Goods and Service Tax (GST)? 3 min read

• Income Tax

What is The Reverse Charge Mechanism under Goods and Service Tax (GST)?

Rebecca Ghomes 7 years ago

A revolutionary change has been brought about the entire taxation system of India, with the onset of a new tax structure named Goods and Service... Read More

Buying a Flat? The Date of Acquisition must Be the Primary Concern 3 min read

• Income Tax

Buying a Flat? The Date of Acquisition must Be the Primary Concern

Rebecca Ghomes 7 years ago

Investing in realty property is becoming a lucrative business. With the realty business growing in such vigor that everyone is trying their hands on it.... Read More

Section 50 C of Income Tax Act – Sale Consideration Vs Stamp Valuation 2 min read

• Income Tax

Section 50 C of Income Tax Act – Sale Consideration Vs Stamp Valuation

Rebecca Ghomes 7 years ago

Section 50C of Income Tax Act states, “The AO is not entitled to make an addition to the sale consideration declared by the assessee if... Read More

Do I pay Input Tax Credit in Goods and service tax? How do I and when can I claim it back? 3 min read

• Income Tax

Do I pay Input Tax Credit in Goods and service tax? How do I and when can I claim it back?

Rebecca Ghomes 7 years ago

What is Input credit tax (ITC)? Recently the Government of India has combined all the taxes and made it into single Goods & service tax... Read More

Around 300 IT Commissioners Transferred Across the Country in a Major Reshuffle 2 min read

• Income Tax

Around 300 IT Commissioners Transferred Across the Country in a Major Reshuffle

Diksha Garg 7 years ago

To fine tune the working of the Income Tax Dept, this step was taken. The list of all the transfers made is personally investigated thoroughly... Read More

Analyzing the Advance Received Against the Sale of Land by Section 2(47)(v) and Section 53A 3 min read

• Income Tax

Analyzing the Advance Received Against the Sale of Land by Section 2(47)(v) and Section 53A

Rebecca Ghomes 7 years ago

At any point in your life you may be involved in selling or buying or transferring an immovable property like land, or house or such,... Read More

The Procedure for Reassessment Proceedings under the Income Tax Act 3 min read

• Income Tax

The Procedure for Reassessment Proceedings under the Income Tax Act

Rebecca Ghomes 7 years ago

When you are filing for income tax in India, you should be aware of the jargons that are present in the Income Tax Act. There... Read More