Income Tax

Assessment under Section 143(3) assessment void if case picked up contrary to CBDT’s Scrutiny Guidelines 2 min read

• Income Tax

Assessment under Section 143(3) assessment void if case picked up contrary to CBDT’s Scrutiny Guidelines

Manager 8 years ago

Assessment under Section 143(3) assessment void if any case picked up contrary to CBDT’s Scrutiny guidelines. In a landmark judgment that could provide relief to... Read More

Income from stocks—business income or capital gains 2 min read

• Income Tax

Income from stocks—business income or capital gains

Manager 8 years ago

16th September: Is the return from share market being shown as business income or capital gains? Income from stocks —business income or capital gains. Well,... Read More

Merits & Demerits of Investing in Equity Share Scheme 2 min read

• Income Tax

Merits & Demerits of Investing in Equity Share Scheme

Manager 8 years ago

In exercise of the powers conferred by 80CCG  (1) of the Income-tax Act, 1961 (43 of 1961), the Central Government of India has formulated the ... Read More

The key to Tax Planning 3 min read

• Income Tax

The key to Tax Planning

Manager 8 years ago

Tax Planning deals with making investments for the purpose of reducing the tax liability and increasing returns. Let us know the key to tax planning... Read More

Charitable organizations entitled to deduction of 15% of the gross receipts without fulfilling any condition 4 min read

• Income Tax

Charitable organizations entitled to deduction of 15% of the gross receipts without fulfilling any condition

Manager 8 years ago

It has recently been held by the ITAT Chandigarh in the cases of the Income Tax Officer vs. Bhartiya Vidya Mandir Trust, Ward VI (1),... Read More

Income Tax Forms download and which form is best for me 2 min read

• Income Tax

Income Tax Forms download and which form is best for me

Manager 8 years ago

Depending upon your income, you need to use different income tax forms which can be easily downloaded from the official website of Income Tax Department... Read More

Consequences of Non-filing of I.T. Return in Time 2 min read

• Income Tax

Consequences of Non-filing of I.T. Return in Time

Manager 8 years ago

If a man escapes a taxable income his income is considered as black money and he is accountable for that. Let us see the Consequences... Read More

Is “mens rea” an essential factor for levy of penalty? 4 min read

• Income Tax

Is “mens rea” an essential factor for levy of penalty?

Manager 8 years ago

“mens rea” an essential factor — We all want to know about “mens rea” an essential factor for levy of penalty or not. The debate... Read More

Does loan transaction between a firm and its partner attract provisions of section 269SS? 2 min read

• Income Tax

Does loan transaction between a firm and its partner attract provisions of section 269SS?

Manager 8 years ago

The question was raised as to whether a loan transaction between a firm and its partner attracts the provision of Section 269SS of the Income... Read More

Foreign asset holders beware!! Income Department sending notices to catch defaulters 5 min read

• Income Tax

Foreign asset holders beware!! Income Department sending notices to catch defaulters

Manager 8 years ago

By CA Pratik Anand, ACA  Foreign Account holders beware; the Income Tax department has started issuing notices to persons having foreign assets about the disclosures... Read More