Income Tax Benefits against repayment of Home Loan principal and Interest- Loan taken jointly or in single name
While taking a home loan one should keep in mind certain Income Tax Benefits against repayment of home loan. Repayment of Home Loan can be... 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.
Income Tax: Reopening of assessments based on mere doubts cannot be entertained in law
The Income Tax Tribunal at Mumbai on the case of Torm Shipping India Pvt. Ltd. (earlier called Orinoco Marine Consultancy India Pvt. Ltd.), Second Floor,... Read More
Penalty Not To Be Levied U/s. 271(1) (c) If “Bonafide Mistake” Made By Assessee
Penalty u/s 271(1)(c) cannot be levied where there is a bonafide mistake made by the assessee without any intention to evade tax. This was declared... Read More
Good Openings for Chartered Accountants, CA-Inter Candidates with a reputed group- Vacancies in Bangalore. Gurgaon and Aurangabad
15th December 2016- Do you have Fire in you! Are you are Bright Chartered Accountant with a zeal to perform? Do want to serve with... Read More
Filing Return of Income Tax in ITR2 ?- Here is Guide to Filing Return form ITR 2 Online
ITR-2 is the income tax return form for people having taxable income from salaries, investments, House Property and capital Gain etc. These investments could be... Read More
Reassessment under Section 147 for increase in revenue due to demonetization
The Government of India for curbing the black economy has stimulated people for shifting towards the digital payment mode for their financial transactions using net... Read More
Reopening of assessment invalid if done without application of mind
The Hon’ble High Court of Gujarat at Ahmadabad in the case of Elecon Engineering Company Ltd. (Petitioner) vs. Assistant Commissioner of Income Tax (Respondent), being... Read More
Section 80E – Interest on Education Loan- Conditions and Limit of Deduction
When you take an education loan for the higher studies, then the deduction is allowed towards interest on educational loan u/s 80E of the Income... Read More
Don’t want Bankers to deduct TDS on Interest Income? Consider Submitting form 15G/15H and see if you are eligible to submit
What is form 15G/15H? This form is specifically designed for bank account holders to request their banks to not deduct TDS on their interest income... Read More
Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny
It’s the first time in the Indian history that the income tax department, India will be using big data analytical tools to seek through the personal... 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