Income Tax

Is interest on home loan treated as a cost of acquisition for calculating capital gains tax on sale of a house? 5 min read

• Income Tax

Is interest on home loan treated as a cost of acquisition for calculating capital gains tax on sale of a house?

Manager 9 years ago

A common question often which arises in the mind of the tax payers is that if someone takes a housing loan and pays interest towards... Read More

All about revised Income Tax Return 2 min read

• Income Tax

All about revised Income Tax Return

Manager 9 years ago

If an assessee has filed his income tax return under section  139(1) of Income Tax Act, 1961  within the due date  or in pursuance of a notice served upon him... Read More

The dilemma of purchasing immovable property from a non-resident

• Income Tax

The dilemma of purchasing immovable property from a non-resident

Manager 9 years ago

Deputation of employees to subsidiaries not chargeable to service tax 3 min read

• Income Tax

Deputation of employees to subsidiaries not chargeable to service tax

Manager 9 years ago

The Hon’ble Gujarat High Court in the case of Commissioner of Service Tax vs. Arvind Mills Ltd., 2014 (4) TMI 132, has held that a... Read More

Insurance Agents sell products with more commission

• Income Tax

Insurance Agents sell products with more commission

Manager 9 years ago

Patna High Court explains the law on accountability of public officials for failure to follow directions 4 min read

• Income Tax

Patna High Court explains the law on accountability of public officials for failure to follow directions

9 years ago

The Patna High Court in the case of M/s Overseas Enterprises having their office at 2263, 1st Floor, Room No. 11, Gali Raghunandan, Naya Bazar,... Read More

Penalty under section 271C cannot be imposed in absence of willful disobedience of the assessee

• Income Tax

Penalty under section 271C cannot be imposed in absence of willful disobedience of the assessee

9 years ago

The consequences of late filing of TDS returns or statements 3 min read

• Income Tax

The consequences of late filing of TDS returns or statements

9 years ago

Any failure on the part of a deductor in filing of TDS returns or statements or late filing of TDS returns or statements shall attract... Read More

Section 40A (3) disallowance applicable to payment by means of crossed cheque 2 min read

• Income Tax

Section 40A (3) disallowance applicable to payment by means of crossed cheque

9 years ago

The Gujarat High Court in a recent judgment pronounced on 26.4.2014 in the case of Rajmoti Industries vs. ACIT, held that payment through any crossed... Read More

Which Is Better: Will or Gift Deed? 2 min read

• Income Tax

Which Is Better: Will or Gift Deed?

Aditijh 9 years ago

Query: I own a plot of land purchased from my own income and i wish to give it to one of my two sons. Please... Read More