Income Tax

Forms 15G and 15H – tools to save tax? 5 min read

• Income Tax

Forms 15G and 15H – tools to save tax?

9 years ago

Banks often ask depositors to file Form No. 15G or 15H every year. There are different rules regarding filing of Form No. 15G and Form... Read More

CBDT procedure for launching prosecution for TDS-TCS default 3 min read

• Income Tax

CBDT procedure for launching prosecution for TDS-TCS default

9 years ago

The Central Board of Direct Taxes has laid down a procedure for launching prosecution for TDS-TCS default. In connection with the above the CBDT has... Read More

Deductions under Section 80DDB of the Income Tax Act 2 min read

• Income Tax

Deductions under Section 80DDB of the Income Tax Act

9 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

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

• Income Tax

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

9 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

Long Term Capital Gains computation and tax rates 2 min read

• Income Tax

Long Term Capital Gains computation and tax rates

Manager 9 years ago

In simple layman terms capital gains as the name suggests is a type of monetary gain which has been acquired from various types of capital... Read More

F& O transactions are non-speculative business transactions 3 min read

• Income Tax

F& O transactions are non-speculative business transactions

Manager 9 years ago

Taxpayers in India whether they are salaried people or not, prefer to involve themselves in share trading as it is an easy way of earning... Read More

Ways of Reducing TDS 2 min read

• Income Tax

Ways of Reducing TDS

Manager 9 years ago

Ways of Reducing TDS The process of TDS on salary is very confusing for many people having knowledge about Income Tax return. There are some... Read More

Beware of Lottery Scams 2 min read

• Income Tax

Beware of Lottery Scams

Manager 9 years ago

Today it is very common to receive lottery scam emails which notify you that you have won some prize in a lottery with the promise of... Read More

No penalty under section 271(1) (c) can be levied on account of failure in deduction of TDS 3 min read

• Income Tax

No penalty under section 271(1) (c) can be levied on account of failure in deduction of TDS

Manager 9 years ago

The ITAT Mumbai in the case of Rushi Builders and Developers Hotel Bay View, Gorai Khadi, L. T. Road, Borivali (W), Mumbai – 400 091,... Read More

Income Tax Department launches Toll-free line for complaints related to black money in elections 2 min read

• Income Tax

Income Tax Department launches Toll-free line for complaints related to black money in elections

Manager 9 years ago

In the run up to the upcoming Assembly polls in Delhi, the Income Tax Department has launched a Toll-free number – 1800 110 132 –... Read More