Income Tax

Merits & Demerits of Investing in Equity Savings Scheme 2 min read

• Income Tax

Merits & Demerits of Investing in Equity Savings Scheme

Manager 8 years ago

In exercise of the powers conferred by 80CCG  (1) of the Income-tax Act, 1961 (43 of 1961), the Central Government of India has formulated the ... Read More

Assessing Officer not entitled to reopen assessment for his change of opinion 2 min read

• Income Tax

Assessing Officer not entitled to reopen assessment for his change of opinion

Manager 8 years ago

Reassessment is a tool of the Income Tax  Department. It gives the Assessing Officer the power to reassess income, of an assessee which has not... Read More

Receipt of Unaccounted Income due to sale of Agricultural Land is not taxable 3 min read

• Income Tax

Receipt of Unaccounted Income due to sale of Agricultural Land is not taxable

Sourav 8 years ago

Whether the Receipt of unaccounted Income on sale of agricultural land can be brought in taxation ambit as unaccounted income? The Matter was discussed in following case... Read More

Penalty U/s 271DA For Violation Of S. 269ST Of The Income-tax Act, 1961 3 min read

• Income Tax

Penalty U/s 271DA For Violation Of S. 269ST Of The Income-tax Act, 1961

Diksha Garg 8 years ago

The issue being examined is about the law applicable to sections 269ST and 271DA of the Income-tax Act, 1961. Whether the Penalty U/s 271DA For Violation... Read More

Stay of Demand of Income Tax by the Assessing Officer does not require an assessee to make a pre-deposit 3 min read

• Income Tax

Stay of Demand of Income Tax by the Assessing Officer does not require an assessee to make a pre-deposit

Sourav 8 years ago

Stay of Demand of Income Tax does not require and Pre-deposit of Tax by Assessee as has been held in following case where the Assessing... Read More

Delay in filing of Appeal by the Income Tax Department- Not acceptable to the HC 3 min read

• Income Tax

Delay in filing of Appeal by the Income Tax Department- Not acceptable to the HC

Diksha Garg 8 years ago

High court has made it clear that will not accept the Delay in filing of appeal by the Income Tax Department. Find out in detail below... Read More

IT – Has Directed that Revised Income Return through Condonation Will not be Viewed 2 min read

• Income Tax

IT – Has Directed that Revised Income Return through Condonation Will not be Viewed

Diksha Garg 8 years ago

Revised Income Return through the process of condonation does not imply its content acceptable: The case: The court has to decide whether it comes under... Read More

Assessment Proceedings u/s 143(2) are not meant for Benefit of Assessee 3 min read

• Income Tax

Assessment Proceedings u/s 143(2) are not meant for Benefit of Assessee

Diksha Garg 8 years ago

The following is an Order passed by the Income Tax Appellant Tribunal (ITAT), Delhi against the Assesse Sh. Dinesh Sharma. Appeal Number is 226/Del/2013. The... Read More

A deep dive into the Taxation of Non-Resident Indians Income 4 min read

• Income Tax

A deep dive into the Taxation of Non-Resident Indians Income

Sourav 8 years ago

NRIs or Non-Resident Indians are the Persons of Indian origin or citizens of India who qualify for NRI status for the relevant assessment year. Let’s... Read More

Tax Implications on Conversion of Partnership firm in Private Limited Company 3 min read

• Income Tax

Tax Implications on Conversion of Partnership firm in Private Limited Company

Rebecca Ghomes 8 years ago

A partnership firm and a limited company are two different entities, in terms of legal liability. The company holds its independent legal entity and shareholders. But... Read More