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 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

All about EOU Scheme – Administrative Control of an EOU 3 min read

• Income Tax

All about EOU Scheme – Administrative Control of an EOU

Akanksha 8 years ago

Administrative Control All control of EOU/EHTP/STP/BTP units have been placed under Administrative control of Central Excise formations The administrative control over Large Tax Payer EOU... Read More

All about 100 % Export Oriented Units (EOU) Scheme – Setting up of an EOU 5 min read

• Income Tax

All about 100 % Export Oriented Units (EOU) Scheme – Setting up of an EOU

Akanksha 8 years ago

To compete in trade with other countries internationally, government of India devises various export promotion schemes. Export oriented units (EOU) and Special Economic Zones (SEZs)... Read More

When Values assigned to individual assets, sale is not Slump Sale Section 50B not attracted 5 min read

• Income Tax

When Values assigned to individual assets, sale is not Slump Sale Section 50B not attracted

Akanksha 8 years ago

A sale is treated as slump sale only if no individual value is assigned to the assets. Case Study The Assessees were partners of a... Read More

Provisions relating Capital Gain u/s 50 of Income Tax Act – Depreciable Assets 4 min read

• Income Tax

Provisions relating Capital Gain u/s 50 of Income Tax Act – Depreciable Assets

Akanksha 8 years ago

  Working of Capital Gain u/s 50 of Income Tax Act against sale of business assets Section 50 of the Income Tax Act, 1961 provides... Read More

Taxation in Digital Economy- Taxation Policy for sourcing online from global sources is not possible 2 min read

• Income Tax

Taxation in Digital Economy- Taxation Policy for sourcing online from global sources is not possible

Sourav 8 years ago

In today’s world, due to advancement in the information and communications technology (ICT) the economy is seeing a transformation that has made technology more powerful,... Read More