Income Tax

Were influential People aware of the Currency Ban coming 1 min read

• Income Tax

Were influential People aware of the Currency Ban coming

Manager 8 years ago

It appears that some powerful and influential people were aware of the currency ban coming See following report, of BJP having deposited large amount of... Read More

Beware of the myth – deposit of Rs 2.5 lacs Cash in Bank Account may not be safe 3 min read

• Income Tax

Beware of the myth – deposit of Rs 2.5 lacs Cash in Bank Account may not be safe

Manager 8 years ago 7

As the Notes of denominations of Rs 500 and Rs 1000 stand withdrawn from the market, everybody is rushing to the banks to deposit or... Read More

Withdrawal of Rs 500 and Rs 1000 Currency Notes- understand consequences of exchanging with fresh currency 6 min read

• Income Tax

Withdrawal of Rs 500 and Rs 1000 Currency Notes- understand consequences of exchanging with fresh currency

Manager 8 years ago

Withdrawal of currency notes of Rs 500 and Rs 1000 from circulation can have serious impact on some assesses. The scheme of withdrawal of these... Read More

Overcoming the withdrawal of old 500 and 1000 notes- Premium market for exchange of notes is already on 4 min read

• Income Tax

Overcoming the withdrawal of old 500 and 1000 notes- Premium market for exchange of notes is already on

Akanksha 8 years ago

In yet another massive transformational move, PM Modi has done it again. His decision to withdraw the old 500 & 1000 notes from the market... Read More

Snapshot of Accounting Standard 16- AS16 – Borrowing Cost 2 min read

• Income Tax

Snapshot of Accounting Standard 16- AS16 – Borrowing Cost

Akanksha 8 years ago

Snapshot of AS16 (Accounting Standard 16) pertaining to Borrowing Cost Scope of AS16 Applied for accounting for borrowing cost Does not applies on actual or... Read More

The ITAT at Pune explains the law on whether late fee for filing of TDS returns can be levied before 01.06.2015 4 min read

• Income Tax

The ITAT at Pune explains the law on whether late fee for filing of TDS returns can be levied before 01.06.2015

Baisakhi Ganguly 8 years ago

The Income Tax Appellate Tribunal at Pune in the case of Gajanan Constructions, 6, Shivaji Road, Damodhar Chambers, Nashik – 4212 001, having PAN: AGGPK7326M... Read More

How to Rectify a defective return of Income Tax 2 min read

• Income Tax

How to Rectify a defective return of Income Tax

Sourav 8 years ago

What is a Defective Return of Income Tax? A defective return of Income Tax is a return where the details provided by the assesse are... Read More

CBDT reframes circular for disallowance of “other sums chargeable” U/s 40(a)(i) 2 min read

• Income Tax

CBDT reframes circular for disallowance of “other sums chargeable” U/s 40(a)(i)

soutrikjoy 8 years ago

In a recent briefing done by CBDT alongside a letter addressed to all the Principal Chief Commissioner of Income Tax and Principal Director General of... Read More

Penalty for Under-reporting and misreporting of income 2 min read

• Income Tax

Penalty for Under-reporting and misreporting of income

Sourav 8 years ago

Finance Bill 2016, has proposed to bring a big overhaul to the income tax regime with respect to penalty in the income-tax. Previously the regime... Read More

Shreemati Devi vs. CIT (Allahabad High Court)Assessing Officers not to harass tax payers and return seized assets as the appeal goes in favor of assessee 3 min read

• Income Tax

Shreemati Devi vs. CIT (Allahabad High Court)Assessing Officers not to harass tax payers and return seized assets as the appeal goes in favor of assessee

Sourav 8 years ago

Arrogance of the department in not returning the assets which were seized in spite of assessee having succeeded in the appeal is evidently illogical and brings... Read More