Income Tax

Lawful tax planning does not amount to an offence 3 min read

• Income Tax

Lawful tax planning does not amount to an offence

Manager 9 years ago

Tax evasion is an offence and should always be avoided. A tax planning till it is lawful does not only reduce the tax burden of a tax payer but also... Read More

TDS not deductible merely on book entry 2 min read

• Income Tax

TDS not deductible merely on book entry

Manager 9 years ago

The Income Tax appellate Tribunal in ITA NO.2603/Mum/2011 (Income Tax Officer vs. M/s Pipavav Shipyard Ltd.) dismissed the appeal of the revenue. It was an... Read More

How to Face an Income Tax Raid? 2 min read

• Income Tax

How to Face an Income Tax Raid?

Manager 9 years ago

The term “Raid” in the law of Income Tax in India is an interaction with the Income Tax Department which leads to chaos and panic.... 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.

Manager 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

Filing of Income Tax Returns by NRIs 2 min read

• Income Tax

Filing of Income Tax Returns by NRIs

Manager 9 years ago

31st July is the due date for filing income tax returns for any financial year. If you are a Non Resident Indian (NRI) and trying... Read More

PENAL PROVISIONS UNDER INCOME TAX ACT 2 min read

• Income Tax

PENAL PROVISIONS UNDER INCOME TAX ACT

Manager 9 years ago

PENAL PROVISIONS UNDER INCOME TAX ACT Provisions under section 221: Section 221(1) of the Act states that if a person fails to pay tax i.e.... Read More

Input Tax Credit under GST 3 min read

• Income Tax

Input Tax Credit under GST

9 years ago

Goods and Service Tax (in short GST), is a tax reform of present India to implement a new tax regime in the country. The proposed... Read More

Foreign asset holders beware!! Income Department sending notices to catch defaulters 5 min read

• Income Tax

Foreign asset holders beware!! Income Department sending notices to catch defaulters

Aditijh 9 years ago

By CA Pratik Anand, ACA  Foreign Account holders beware; the Income Tax department has started issuing notices to persons having foreign assets about the disclosures... Read More

Permanent Account Number- How to Acquire Application Form for Duplicate PAN Card 2 min read

• Income Tax

Permanent Account Number- How to Acquire Application Form for Duplicate PAN Card

Aditijh 9 years ago

Permanent Account Number (PAN) Card is an ID card issued to the Indian citizens by the Indian Income Tax Department. This PAN Card has got... Read More

Provisions relating to search and seizure under the Income Tax Act 4 min read

• Income Tax

Provisions relating to search and seizure under the Income Tax Act

9 years ago

  Section 132 of the Income Tax Act deals with the provisions relating to search and seizure. Search and seizure involve serious invasion of one’s... Read More