Income Tax

When profits received by business partners are not taxable in the hands of partners 2 min read

• Income Tax

When profits received by business partners are not taxable in the hands of partners

9 years ago

If a person is a partner of a firm that is separately assessed, his share of profit in the total income of the firm is... Read More

Safe Investment with Fixed Deposit – Is it a wise Investment too? 2 min read

• Income Tax

Safe Investment with Fixed Deposit – Is it a wise Investment too?

9 years ago

When we think of risk free returns, Fixed Deposit is one of the major names that come in our mind. A very simple reason is fixed... Read More

The New Company Bill 2011: Incorporation & Raising Capital 2 min read

• Income Tax

The New Company Bill 2011: Incorporation & Raising Capital

9 years ago

The Companies Act 1956 was supplanted by a new company bill passed as Companies Bill 2011, passed in Lok Sabha on Dec 18, 2012 at... Read More

Rules Relating to Gift Tax in India 2 min read

• Income Tax

Rules Relating to Gift Tax in India

9 years ago

Your mother transferred an amount of money to your bank account for helping you for a certain reason. Have you ever thought that is there... Read More

INCOME TAX ON EXPATRIATE INCOME IN INDIA 3 min read

• Income Tax

INCOME TAX ON EXPATRIATE INCOME IN INDIA

9 years ago

Who is Expatriate? An individual living in a country other than their country of citizenship, often temporarily and for work reasons. Scope of Taxation Based... Read More

Rectification of mistakes under section 154 of the Income Tax Act 2 min read

• Income Tax

Rectification of mistakes under section 154 of the Income Tax Act

9 years ago

The Income Tax Act has set procedure for Rectification of mistakes under section 154 of the Act for disposal of errors in the income tax... Read More

Tribunal should make all efforts to dispose of the appeals in the cases where there is stay of demand 5 min read

• Income Tax

Tribunal should make all efforts to dispose of the appeals in the cases where there is stay of demand

9 years ago

The Gujarat High Court in the case of Deputy Commissioner of Income Tax, TDS Circle vs. Vodafone Essar Gujarat Limited, held that the Learned Tribunal... Read More

Which Accounts can be made subject to Special Audit under section 142(2A) by Assessing Officer? 2 min read

• Income Tax

Which Accounts can be made subject to Special Audit under section 142(2A) by Assessing Officer?

Aditijh 9 years ago

  The amendment in the taxation laws in 1975, brought in to existence the sub-section (2A) to section 142 of the Income tax act of... Read More

Consequences of Non-filing of I.T. Return in Time 2 min read

• Income Tax

Consequences of Non-filing of I.T. Return in Time

Manager 9 years ago

Consequences of Non-filing of I.T. Return in Time If a man escapes a taxable income his income is considered as black money and he is... Read More

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013 2 min read

• Income Tax

Rules for arrest and bail relating to offences as provided in the Finance Act, 2013

Manager 9 years ago

Recently some circulars have been issued regarding the amendments introduced by the Finance Act, 2013, for offences punishable under the provisions of Service Tax, Central... Read More