Income Tax

Now you do not need to send copy of ITR-V after filing return; Can EVC instead 3 min read

• Income Tax

Now you do not need to send copy of ITR-V after filing return; Can EVC instead

9 years ago

Taxpayers filing return of income electronically (without digital signatures) are required to send the signed copy of ITR-V acknowledgement to the CPC, Bengaluru within 120... Read More

Do donations help to minimize an individual’s tax liability? 2 min read

• Income Tax

Do donations help to minimize an individual’s tax liability?

Manager 9 years ago

In the tax-planning season, most people rush to make investments to reduce their tax liability. It is found that individuals pay more taxes than they... Read More

Tax implications of Life Insurance policies 2 min read

• Income Tax

Tax implications of Life Insurance policies

Manager 9 years ago

Many people have an idea that benefits received from the maturity of life insurance policies are tax-free. But it is not always true as all... Read More

Forms 15G and 15H – tools to save tax? 5 min read

• Income Tax

Forms 15G and 15H – tools to save tax?

Manager 9 years ago 6

Banks often ask depositors to file Form No. 15G or 15H every year. There are different rules regarding filing of Form No. 15G and Form... Read More

Choosing the best car loan option 2 min read

• Income Tax

Choosing the best car loan option

Manager 9 years ago

Car is not only a status symbol, but it is also a necessity, especially in metro cities, where you have to regularly travel to far... Read More

Tax evasion can land you in deep trouble 5 min read

• Income Tax

Tax evasion can land you in deep trouble

Manager 9 years ago

Individuals have the liberty to self assess their income and pay taxes accordingly. However that does not mean that if someone conceals a particular source... Read More

An overview on personal loan 2 min read

• Income Tax

An overview on personal loan

Manager 9 years ago

There are many who need extra amount once in a while to tide over the period of financial crisis. The amount is not necessarily for... Read More

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income 4 min read

• Income Tax

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income

Manager 9 years ago

The present explanation 4, which is proposed to be substituted by the Finance Bill,2015, states that for the purposes of clause (iii) of section 271(1),... Read More

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied 2 min read

• Income Tax

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied

Manager 9 years ago

The ITAT Delhi in the case of Income Tax Officer vs. Vartman Securities & Services Pvt. Ltd., 2014 (12) TMI 552, has held that where... Read More

Investigation under the provisions of the Income Tax Act 3 min read

• Income Tax

Investigation under the provisions of the Income Tax Act

Manager 9 years ago

According to the Oxford English Dictionary, the term “investigation” refers to “the official examination of the facts regarding a situation or a crime.” For the... Read More