Income Tax

What if you are caught with tax evasion? 3 min read

• Income Tax

What if you are caught with tax evasion?

Manager 8 years ago

Tax Evasion Every year the government makes repeated appeals and reminders to the tax payers through all possible media. Caught with Tax Evasion. There are... Read More

The clause (iii) of the section 17(3) 2 min read

• Income Tax

The clause (iii) of the section 17(3)

Manager 8 years ago

According to clause (iii) of Section 17(3), profits or benefits in lieu of salary” includes: (A) Any amount due to and/or received by any person... Read More

When NRIs need to pay income tax in India? 2 min read

• Income Tax

When NRIs need to pay income tax in India?

Manager 8 years ago

The Income Tax Act has not defined NRI directly. We need to know when NRIs need to pay income tax in India. Section 6 of... Read More

Tax evasion can land you in deep trouble 5 min read

• Income Tax

Tax evasion can land you in deep trouble

Manager 8 years ago

Individuals have the liberty to self assess their income and pay taxes accordingly. However that does not mean that if someone conceals a particular source... Read More

Choosing the best car loan option 2 min read

• Income Tax

Choosing the best car loan option

Manager 8 years ago

Car is not only a status symbol, but it is also a necessity, especially in metro cities, where you have to regularly travel to far... Read More

know your pan by name 1 min read

• Income Tax

know your pan by name

sunil12 8 years ago

Know Your Pan status by name, pan no or number. View your nsdl pan verification online details, uti Pan card search by date of birth,... Read More

A rectification application is maintainable based upon a subsequent decision of the Apex Court 3 min read

• Income Tax

A rectification application is maintainable based upon a subsequent decision of the Apex Court

Manager 8 years ago

The Allahabad High Court declares that a rectification application under the provisions of the Income Tax Act based on a subsequent decision of the Apex... Read More

Books of account cannot be rejected if TDS has been deducted 4 min read

• Income Tax

Books of account cannot be rejected if TDS has been deducted

Manager 8 years ago

The ITAT Pune in the case of VV Constructions v ACIT (ITAT Pune), ITA No. 1641/PN/2013 on 12.06.2015 held that books of account cannot be... Read More

Deductions under Section 80DDB of the Income Tax Act 3 min read

• Income Tax

Deductions under Section 80DDB of the Income Tax Act

Manager 8 years ago

Deductions under Section 80DDB of the Income Tax Act are available to an individual or a HUF since 1.4.2004. This kind of deduction is covered... Read More

Section 36(1)(iii) – Averting Interest Expenditure 2 min read

• Income Tax

Section 36(1)(iii) – Averting Interest Expenditure

Manager 8 years ago

The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Section 36(1)(iii) – Averting Interest Expenditure. Income... Read More