Income Tax

New rules for filing income tax For 2013-14 2 min read

• Income Tax

New rules for filing income tax For 2013-14

Manager 9 years ago

Some recent amendments have been introduced by the Income Tax Department for filing Income tax Return by the assessees for the Assessment Year 2013-14. These... Read More

Distinguish between a NRO and NRE account 2 min read

• Income Tax

Distinguish between a NRO and NRE account

Manager 9 years ago

There are two options available to NRIs who wish to open a bank account in India. He can either open an NRO or NRE account.... Read More

A summary on best judgment assessment 2 min read

• Income Tax

A summary on best judgment assessment

Manager 9 years ago

Assessment refers to evaluation or judgment. As per the income tax law it refers to evaluation of income. It includes various procedures. Though in the... Read More

Finance Minister tables the budget for 2014

• Income Tax

Finance Minister tables the budget for 2014

Manager 9 years ago

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

Manager 9 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Things to know before choosing your tax return preparer 2 min read

• Income Tax

Things to know before choosing your tax return preparer

Manager 9 years ago

Tax professionals have different skills and expertise in the subject. There are many kinds of tax return preparers with credentials. The Government of India has... Read More

Which LIC Policy Is Best For Me? 2 min read

• Income Tax

Which LIC Policy Is Best For Me?

Manager 9 years ago

Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More

All about Penalty under section 271(1) (c) 2 min read

• Income Tax

All about Penalty under section 271(1) (c)

9 years ago

Section 271(1) (c) of the Income Tax Act, 1961 deals with levy of penalty due to concealment of income by an assessee. Penalty under section... Read More

Penalty under section 271 (1) (c) cannot be levied only as there has been an addition based on valuation of the Registering Authority 5 min read

• Income Tax

Penalty under section 271 (1) (c) cannot be levied only as there has been an addition based on valuation of the Registering Authority

9 years ago

The ITAT Hyderabad in the case of Bhavya Anant Udeshi Hyderabad-500034 having PAN AALPUB8857A (appellant) vs. The Income Tax Officer (International Taxation)-I, Hyderabad- 500004 (respondent),... Read More

Transfer pricing rules in India 4 min read

• Income Tax

Transfer pricing rules in India

Aditijh 9 years ago

Commercial transactions between the different multinational groups may not take place through the same market forces existing between the two independent companies. One company often... Read More