Income Tax

The Department cannot access the documents relating to the third party obtained in a search operation 5 min read

• Income Tax

The Department cannot access the documents relating to the third party obtained in a search operation

Manager 8 years ago

It has been held by the Hon’ ble Delhi High Court in R. Batliboi & Co. vs. The Department Of Income Tax, in W.P.(C) 9479/2007... Read More

The total capital gains should be included without computing the benefits of indexation while computing the “book profits” 5 min read

• Income Tax

The total capital gains should be included without computing the benefits of indexation while computing the “book profits”

Manager 8 years ago

The ITAT, Mumbai Bench in the case of Dharmayug Investments Ltd., The Times of India Bldg., Dr D N Road, Fort Mumbai 400 001 (PAN... Read More

Will “E-Scrutiny” help to deal with tax disputes? 2 min read

• Income Tax

Will “E-Scrutiny” help to deal with tax disputes?

Manager 8 years ago

Tax litigation in India require a positive approach involving people with sound understanding of law to provide practical solutions to tax payers to help them... Read More

How to file an Electronic Audit Report? 2 min read

• Income Tax

How to file an Electronic Audit Report?

Manager 8 years ago

New e-filing site launched by the Income Tax department: The Income Tax department has begun a new e-filing website. Taxpayers can LOGIN at the website... Read More

Input Tax Credit under GST 3 min read

• Income Tax

Input Tax Credit under GST

Manager 8 years ago

Goods and Service Tax (in short GST), is a tax reform of present India to implement a new tax regime in the country. The proposed... Read More

CBDT Loosen up the Rules for Providing Information regarding Payments made to NRIs 2 min read

• Income Tax

CBDT Loosen up the Rules for Providing Information regarding Payments made to NRIs

Manager 8 years ago

  Section 195 of the Income tax act empower the Central Board of Direct Taxes to capture information in respect of payments made to non-residents,... Read More

Section 54G does not mandate that machinery should be acquired in the same year of transfer 4 min read

• Income Tax

Section 54G does not mandate that machinery should be acquired in the same year of transfer

Manager 8 years ago

The Hon’ble Supreme Court in Civil Appeal Nos. 5525-5526 of 2005, M/S Fibre Boards (P) LTD., Bangalore vs. the Commissioner of Income Tax, Bangalore, has... Read More

Do’s and don’ts of a Survey under the Income Tax Act, 1961 4 min read

• Income Tax

Do’s and don’ts of a Survey under the Income Tax Act, 1961

Manager 8 years ago

The term “Survey” has not been defined in the Income Tax Act. However as per Concise Oxford Dictionary, “Survey” means having a view over anything,... Read More

Non-reporting of actual income for taxation as an error 3 min read

• Income Tax

Non-reporting of actual income for taxation as an error

Manager 8 years ago

Though we require filing income tax returns (ITR) every year, we are still prone to errors. There are some errors which are often made by... Read More

An Assessing Officer should help the tax payers in a reasonable manner 2 min read

• Income Tax

An Assessing Officer should help the tax payers in a reasonable manner

Manager 8 years ago

The Income Tax Appellate Tribunal in Shri Paramjeet Singh Chhabra vs. Income Tax Officer 1(2) being ITA No. 1 12/Ind/2013 (for the A.Y. 2005-06) by... Read More