The case of Godrej & Boyce vs. CIT (Supreme Court)
In the judgment given by the Bombay High Court for Godrej & Boyce vs. CIT 328 ITR 81 (Bom), The Supreme Court of India needed... Read More
Income Tax
- Your guide to understanding and filing income tax returns.
- Simplify your tax filing process with expert advice.
- Learn about the different types of income tax, including individual income tax, corporate income tax, and more. Understand the income tax slabs, deductions, and exemptions applicable to various income sources.
- Get expert advice on tax planning and saving strategies to minimize your tax liability. Learn how to file your income tax return accurately and on time, avoiding penalties and interest charges.
- Stay up-to-date with the latest income tax news, circulars, and notifications. Access useful tools like income tax calculators, TDS calculators, and form 16 download links.
Law on Benefit Available for Cost of House Acquired Despite Non-payment
When you sell any long term capital asset, there are huge gains which are to be taxed at a rate of 20%. Now the gain... Read More
How can you get tax exemption u/s 54 of Income Tax Act on sale of long term capital asset?
3 min read
When you sell any long term capital asset, there may be Capital gains which are liable to be taxed at a rate of 20%. Now the gain... Read More
Could you save yourself from the hands of income tax by transferring money to your spouse’s account?
4 min read
Could you save yourself from the hands of income tax by transferring money to your spouse’s account?
Have you ever transferred money to spouse’s account in order to meet her personal requirements and expenses? If this thing happens very often, then you... Read More
TDS u/s 194C is not required to be deducted when paying wages to laborers working under assessee’s direct supervision
Tapas Paul Vs ACIT (ITAT Kolkata) Facts of the case Assessing Officer has disallowed the payment made to the labourers by the assessee on the... Read More
CBDT issues draft rules for valuation of unquoted shares
The current burning news state that the Indian government has introduced a new chapter in the tax department. The insertion of clause X by the... Read More
Top Reasons where Taxpayers get into trouble with the Tax Authorities
There are top reasons where taxpayers get into trouble with the tax authorities. These cases were relatively rare earlier but are now becoming common in the... Read More
Industrial Leased property Rental Income- What is CBDT stand on it
The Central Board of Direct Taxes (CBDT) has cleared the air on taxation on Industrial Leased property Rental Income for letting out industrial leased property... Read More
APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961
27 min read
The term appeal has nowhere been defined under the Income Tax Act. However as per Mozley and Whiteley’s Law Dictionary “Appeal is a complaint... Read More
Taxmen Following you on Facebook: Be Cautious on Uploading your Holiday Pictures on Facebook
3 min read
It may be a reality with you that you have not paid your taxes in time and went on a holiday or bought a shiny... Read More
Employer can forfeit gratuity of an employee in case of moral turpitude 
Diving Deeper: The Impact of the New Tax Bill on Dairy and Farming Income 
Bombay High Court Upholds Section 271(1)(c) Penalty for Deliberate Non-Disclosure 
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act