Income Tax

Warrant in name of a dead person does’t make 158BC/158BD proceedings invalid: Gunjan Girishbhai Mehta vs. DIT (Supreme Court) 2 min read

• Income Tax

Warrant in name of a dead person does’t make 158BC/158BD proceedings invalid: Gunjan Girishbhai Mehta vs. DIT (Supreme Court)

Sourav 8 years ago

Where the assessee has attended proceedings under section158BC, are subsequent actions inder 158BD invalid if warrant is in name of dead person... Read More

FAQ on Cash Receipt of Rs.2 Lakh or More w.e.f 1.04.2017 (Section 269ST) 2 min read

• Income Tax

FAQ on Cash Receipt of Rs.2 Lakh or More w.e.f 1.04.2017 (Section 269ST)

Rajbir Chawla 8 years ago

  Section 269 ST has been introduced in this budget, which has draconian provisions. However would these provisions be strong enough to deter a tax... Read More

Finance Bill: Empowering tax officials for curbing black money 2 min read

• Income Tax

Finance Bill: Empowering tax officials for curbing black money

Sourav 8 years ago

The countdown has begun. From the 1st of April, 2017 the Central Govt.’s steps for curbing black money is going to be more and more... Read More

No more fake rent receipts for claiming deduction for house rent allowance 2 min read

• Income Tax

No more fake rent receipts for claiming deduction for house rent allowance

Sourav 8 years ago

You might find yourself in trouble soon if who have been using the fake rent receipts for saving income tax. The department might soon ask... Read More

Section 269ST: A major step towards cashless economy 3 min read

• Income Tax

Section 269ST: A major step towards cashless economy

Sourav 8 years ago

Amidst the widespread effect of the demonetization which was quite fresh in the cognizance of the people, Union Budget 2017 announced a loud message which... Read More

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns 4 min read

• Income Tax

New Income Tax Return Forms: Details of cash deposited during demonetization to reported now in the returns

Sourav 8 years ago

The Income Tax Department officials would now seek the details of all deposits done by the assessee during the period of demonetization as a part... Read More

How can you get tax exemption by selling your asset under Section 54F Income Tax Conditions? 2 min read

• Home Loans
• Income Tax

How can you get tax exemption by selling your asset under Section 54F Income Tax Conditions?

Rebecca Ghomes 8 years ago

Whenever we decide to sell any long-term capital asset, the gains are large but the tax to be paid is indeed huge too. Gains on... Read More

Common mistakes to avoid while filing income tax returns 3 min read

• Income Tax

Common mistakes to avoid while filing income tax returns

Sourav 8 years ago

The season for filling the Income Tax return is back. Everyone whose income is above INR 5 lakhs are required to mandatory e-file their income... Read More

How to manage your taxes even if you miss the deadline with Belated Income Tax Return Process? 4 min read

• Income Tax

How to manage your taxes even if you miss the deadline with Belated Income Tax Return Process?

Rebecca Ghomes 8 years ago

If the income tax return is not submitted within the stipulated timeline it is called Belated Income Tax Return. One can still file the return... Read More

Whether remission of loan can be assessed as income under section 41(1) for the purposes of MAT 4 min read

• Income Tax

Whether remission of loan can be assessed as income under section 41(1) for the purposes of MAT

Sourav 8 years ago

Section 41(1)/ 115JB of the IT ACT: The Entire provision contained under the law clarified whether the remission of loan can be assessed as income... Read More