Mere omission cannot be treated as concealment of income
The Hon’ble Supreme court has held in the case of K.C. Builders & another vs. The Asst. Commissioner of Income Tax, J.T. 2004(2) SC 100,... Read More
Income Tax
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Patna High Court explains the law on accountability of public officials for failure to follow directions
Law on Accountability of Public Officials- what is remedy if they fail to follow Directions The Patna High Court in the case of M/s Overseas... Read More
Registering as Legal Heir in Case of the Death of Taxpayer
There are certain queries coming from various Taxpayers on how to deal Tax liabilities and compliances after demise and what are legal requirements concerning Income Tax Liability... Read More
Tax Planning Guide for Small and Medium Businesses
Tax planning is a highly significant aspect of running any business. In fact, it is one of the important constituents of your financial planning. Tax... Read More
Digging deeper into unexplained cash credit as per provisions of Section 68
It is a strange world nowadays where even corruption carries creativity with innovative tax evasion techniques cropping up every other day. Black money routed through... Read More
Exemptions to educational institutions under Section 10(23C) (vi)(via)/ 80G available if funds utilized for charitable purposes
As per the Section 10 (23C) (iiiab) of the Income Tax Act, it clearly specifies that apart from the applicant looking for exemption being any... Read More
Higher Tax deduction rate for Short term capital gains
The section 111A of the income tax act 1961, lays down the provision for Tax Deduction Rate for short term capital gains. Definition of short... Read More
Verdict on Non-competent Fee and Commercial Expediency
Ind. Global Corporate Finance Pvt. Ltd. was given a verdict by the Mumbai Bench of Income tax appellate regarding the non-competent fee paid by the... Read More
Capital Gains on Transfer of Jointly Owned Property
Capital Gains on Transfer of Jointly Owned Property Often an assessee owns one residential property by itself, or be a joint owner along with a close... Read More
Usual Tricks to Convert Black Money into White Legal Money
Some Common Tricks to Convert Black Money in White Money The growth of unaccounted money or black money has resulted in the creation of a... 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