Income Tax

Section 50C (1) of the Income Tax Act is retrospective in nature 4 min read

• Income Tax

Section 50C (1) of the Income Tax Act is retrospective in nature

Baisakhi Ganguly 8 years ago

The Income Tax Appellate Tribunal at Ahmadabad in the case of Dharamshibhai Sonan 22, Kamalpark  Row House, Kapodara,  Varachha Road, Surat – 395 006 having... Read More

Why you should not delay filing the Income Tax return? 3 min read

• Income Tax

Why you should not delay filing the Income Tax return?

Akanksha 8 years ago

Income Tax Return forms the base for any and every Indian citizen and is mandatory. As per Section 139(1) of Income Tax Act 1956, it... Read More

Understanding Computation of Capital Gains after adjusting Cost Inflation Index 3 min read

• Income Tax

Understanding Computation of Capital Gains after adjusting Cost Inflation Index

Akanksha 8 years ago

One of the most important terms used in Income Tax, 1961 is Cost Inflation Index (CII). Understanding this term is very crucial for the correct... Read More

How can you benefit from The Direct Tax Dispute Resolution Scheme Rules, 2016 2 min read

• Income Tax

How can you benefit from The Direct Tax Dispute Resolution Scheme Rules, 2016

Sourav 8 years ago

The Indian Finance Minister Mr.Arun Jaitley during the Union Budget 2016 stated that for bringing the number of taxation cases and litigation down across the... Read More

Secure Income Tax efiling Account against Hackers 3 min read

• Income Tax

Secure Income Tax efiling Account against Hackers

Skumar 8 years ago

The vulnerabilities of the Income tax department’s Data security Systems have become a hot topic of discussion once again with the latest news of yet... Read More

Understanding Clubbing of Income u/s 60-65 of Income Tax Act 1961 2 min read

• Income Tax

Understanding Clubbing of Income u/s 60-65 of Income Tax Act 1961

Sourav 8 years ago

Clubbing of income refers to the inclusion of other person’s income in the assessee’s final taxable income, for instance, income earned by the spouse from an... Read More

Setting Off of Losses in Case of Mutual Funds 2 min read

• Income Tax

Setting Off of Losses in Case of Mutual Funds

Sourav 8 years ago

Funds apart from equity-oriented funds, short-term gains are gains made on assets which assessee holds for less than 3 years and are taxable as per... Read More

Income Tax implications of Stock Options 3 min read

• Income Tax

Income Tax implications of Stock Options

Baisakhi Ganguly 8 years ago

What do you mean by a ‘Stock Option’? A stock option is a privilege transferred by one person to another which provides the buyer the... Read More

I-T Department to Examine 60 cases in Foreign Asset, Details Found Mismatched in Disclosure 2 min read

• Income Tax

I-T Department to Examine 60 cases in Foreign Asset, Details Found Mismatched in Disclosure

Garima Jalali 8 years ago

I-T department to examine 60 cases in foreign asset as tax authorities have found a mismatch in disclosure. Indian Government has had long discussions on... Read More

TDS not applicable on Lump Sum Lease Premium 4 min read

• Income Tax

TDS not applicable on Lump Sum Lease Premium

soutrikjoy 8 years ago

Recently a circular was laid with TDS provisions of section 194-I of the Income-tax Act, 1961. According to that circular, Lump Sum lease premium or... Read More