Income Tax

Calculation of interest under Section 234 A, B and C of the Income Tax Act 3 min read

• Income Tax

Calculation of interest under Section 234 A, B and C of the Income Tax Act

9 years ago

If someone files his income tax return after the due date, he shall be liable to pay penal interest as per section 234 of the... Read More

Definition Of Service As Per Service Tax Act 2 min read

• Income Tax

Definition Of Service As Per Service Tax Act

9 years ago

Definition Of Service As Per Service Tax Act Service as per Service Tax is described as the action that is taken for consideration and is... Read More

Investment in Family Members’ Name Can Help in Tax Planning 2 min read

• Income Tax

Investment in Family Members’ Name Can Help in Tax Planning

9 years ago

An individual assessee gets many exemptions u/s VI. There are various investment opportunities that can fetch tax savings for us. But there is a question,... Read More

Are You Eligible For Income Tax Rebate U/S 87A 2 min read

• Income Tax

Are You Eligible For Income Tax Rebate U/S 87A

9 years ago

In budget 2013-14, taxpayers’ focus was on Section 87A. This section is added in Income Tax act 1961 for the benefit of common man. Section... Read More

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment 2 min read

• Income Tax

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment

Aditijh 9 years ago

The structure of the India Tax system is quite simple, detailed but differentiable in power among State, Central, and other local governments. There are some... Read More

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