Income Tax

Can one claim deduction or exemption if missed in form 16? 2 min read

• Income Tax

Can one claim deduction or exemption if missed in form 16?

9 years ago

When salaried people file their final proofs relating to tax, if an employee fails to file any detail, the deduction claimed by him is not... Read More

Rules tightened for non-filers of Income Tax Return 2 min read

• Income Tax

Rules tightened for non-filers of Income Tax Return

9 years ago

  The Central Board of Direct Taxes (CBDT) tightens the rules dealing with monitoring of “non-filers” of Income Tax Returns and aims to follow uniform... Read More

Civil Procedure Code also applies to appeals under section 260A.

• Income Tax

Civil Procedure Code also applies to appeals under section 260A.

9 years ago

Taxability of Agricultural Income 3 min read

• Income Tax

Taxability of Agricultural Income

9 years ago

Agricultural Income – defined: According to the provisions of the Income Tax Act, any income earned from any of the three following three sources are... Read More

All about best assessment judgment 4 min read

• Income Tax

All about best assessment judgment

9 years ago

Assessment refers to judgment or evaluation. According to the law relating to income tax, assessment means evaluation or measurement of income. The term ‘assessment’ includes... Read More

No TDS on Service Tax; Reset Password using Physical Documents and CBDT wants Citizen Charter to be honored

• Income Tax

No TDS on Service Tax; Reset Password using Physical Documents and CBDT wants Citizen Charter to be honored

9 years ago

Glimpses of the Black Money Bill 3 min read

• Income Tax

Glimpses of the Black Money Bill

9 years ago

The government has recently introduced the Undisclosed Foreign Income and Assets Bill, 2015, commonly known as the Black Money Bill. The income tax department has... Read More

Deductor now entitled to interest on excess TDS in case of refund 3 min read

• Income Tax

Deductor now entitled to interest on excess TDS in case of refund

9 years ago

The Apex court in the case of Union Of India vs. Tata Chemicals Ltd. recently held that excess TDS is to be refunded by the... Read More

Pay TDS on your life insurance policies 2 min read

• Income Tax

Pay TDS on your life insurance policies

9 years ago

The Budget 2014-15 says that you have to pay a 2% TDS on any sum you receive from most of your life insurance policies. If... Read More

Foreseeable Business loss can be allowed as deduction 3 min read

• Income Tax

Foreseeable Business loss can be allowed as deduction

9 years ago

The Income Tax Tribunal, Mumbai in the case of Jacobs Engineering India Pvt. Ltd. vs. The ACIT 8(2), Mumbai, ITA No. 335IMUM of 2007 (A.Y.... Read More