Income Tax

Statutory reserve created under section 45IC of Reserve Bank of India Act should be included in the book profits 2 min read

• Income Tax

Statutory reserve created under section 45IC of Reserve Bank of India Act should be included in the book profits

9 years ago

It was held by the Delhi High Court in the case of Srei Infrastructure Finance Ltd. vs. ACIT that according to Explanation (1) (c) to... Read More

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules. 2 min read

• Income Tax

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules.

9 years ago

The Income Tax department in a circular dated 9.4.13 has declared that it has become mandatory for all deductors to issue the TDS certificates for... Read More

Impacts of Non-issuance of TDS certificate within time 2 min read

• Income Tax

Impacts of Non-issuance of TDS certificate within time

9 years ago

There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More

Filing of Income Tax Return without paying Self Assessment Tax makes it defective 2 min read

• Income Tax

Filing of Income Tax Return without paying Self Assessment Tax makes it defective

9 years ago

Present provisions of section 139(9) of the Income Tax Act: The present provisions of section 139(9) of the Income Tax Act contain the conditions the... Read More

The New Channel of Collecting Information Return for AIR 3 min read

• Income Tax

The New Channel of Collecting Information Return for AIR

Aditijh 9 years ago

The new channel of collecting information in the form of Annual Information Return provided in Section 285BA of the I.T. Act 1961 has come across... Read More

No addition to income can be allowed for unexplained investment based on an unsigned agreement for sale of property 5 min read

• Income Tax

No addition to income can be allowed for unexplained investment based on an unsigned agreement for sale of property

9 years ago

It has recently been held by the ITAT, Hyderabad in the case of R.Nalini Devi vs. Department of Income Tax, (ITA Nos. 930 and 931... Read More

Glimpses of taxation amendments in budget 2015 6 min read

• Income Tax

Glimpses of taxation amendments in budget 2015

9 years ago

Regarding income of all kinds of assessees liable to pay income tax for the assessment year 2015-2016, the rates of income tax have been stated... Read More

Understanding Notice from Income Tax Department and how to handle it 4 min read

• Income Tax

Understanding Notice from Income Tax Department and how to handle it

Aditijh 9 years ago

One of the biggest worries of income tax payers is getting notice from Income Tax Department. The Department issues notices under various provisions of Income... Read More

Insurance policy- good or bad 2 min read

• Income Tax

Insurance policy- good or bad

9 years ago

Buying life insurance-both life and general can be tricky. The wide range of policies available in the life insurance sector creates confusion in the mind... Read More

Some Basics required to be known before filing Income tax 3 min read

• Income Tax

Some Basics required to be known before filing Income tax

9 years ago

The general principle of filing income tax returns is that whosoever has an annual income beyond a certain exemption limit has to file his or... Read More