Income Tax

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved 2 min read

• Income Tax

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved

Aditijh 9 years ago

The case between Indian Income Tax vs. Dalmia Dyechem Industries: – It seems that the section 271 1 c states that any kind of penalty... 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

Process of charging interest under section 234 of IT Act 2 min read

• Income Tax

Process of charging interest under section 234 of IT Act

Manager 9 years ago

Process of charging interest under section 234 of IT Act Income Tax Act as a statute: Income Tax Act 1961 ( as amended by the... Read More

Blank cheques found during a search cannot be treated as unexplained investments 5 min read

• Income Tax

Blank cheques found during a search cannot be treated as unexplained investments

Manager 9 years ago

The ITAT, Hyderabad in the case of Sri Laxmi Narayan Agarwal (PAN: ACDPA7791B) vs. Asst. Commissioner of Income Tax, Circle-6(1), Hyderabad, I.T.A. No. 1392/HYD/2010 by... Read More

Capital gains tax rates 2 min read

• Income Tax

Capital gains tax rates

Manager 9 years ago

Depending upon the type of capital assets you have made investment in the tax rates of your capital gains are decided. There are few investments... Read More

Glimpses of taxation amendments in budget 2015 6 min read

• Income Tax

Glimpses of taxation amendments in budget 2015

Manager 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

Are you planning to borrow for a house and getting it insured as well?

• Income Tax

Are you planning to borrow for a house and getting it insured as well?

Manager 9 years ago

Guide to the law on revision of assessments 3 min read

• Income Tax

Guide to the law on revision of assessments

Manager 9 years ago

According to section 263 of the Income Tax Act 1961, the commissioner has the power to call for and scrutinize the records of certain proceedings... Read More

Illegal acts amounting to tax evasion 2 min read

• Income Tax

Illegal acts amounting to tax evasion

Manager 9 years ago

Tax avoidance is a process by which a person plans his or her finances to get exemptions and deductions in tax provided by tax laws... Read More

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income 4 min read

• Income Tax

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income

Manager 9 years ago

The profits arising out of sale of an agricultural land which is far away from the limits of municipality cannot be treated as a regular... Read More