Income Tax

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

Companies Act 2013 – Section 139 a closer look 2 min read

• Income Tax

Companies Act 2013 – Section 139 a closer look

Sourav 8 years ago

A simple understanding of section 139(1) of the Companies Act 2013 provides the below-mentioned points, regarding the appointment, term, duration and rotation of the auditors:... Read More

Lifting Corporate Veil- Possible in case of Fraudulent conduct, Misrepresentation by Directors 3 min read

• Income Tax

Lifting Corporate Veil- Possible in case of Fraudulent conduct, Misrepresentation by Directors

Sourav 8 years ago

Piercing the corporate veil is the most widely used doctrine in corporate law for deciding whether shareholders could be liable for all the commitments of... Read More

Has Penalty u/s 271(1) (c) become a mandatory result of Non filing of Quantum Appeal? 2 min read

• Income Tax

Has Penalty u/s 271(1) (c) become a mandatory result of Non filing of Quantum Appeal?

Sourav 8 years ago

It has become a common mindset to make the Assessee liable to Penalty u/s 271 (1) (c) in all the cases in which he/she abstains... Read More

Things you should know regarding Income Tax Appeal 2 min read

• Income Tax

Things you should know regarding Income Tax Appeal

Sourav 8 years ago

‘Appeal’ as per the One Law Dictionary is defined as a proceeding which is taken to amend a wrong and incorrect decision of a court... Read More

Some ridiculous taxation laws around the world 3 min read

• Income Tax

Some ridiculous taxation laws around the world

Rajbir Chawla 8 years ago

Are you upset with some ridiculous provisions in the Income tax or other indirect taxes acts? Are you upset with the functioning of the Income... Read More