Penalty under section 271(1) (c) cannot be levied merely on the ground that the assessee agrees to an addition made by the AO for purchasing his peace of mind

Penalty under section 271(1) (c) ca...

The Karnataka High Court in the recent case of CIT vs. Manjunatha Cotton and Ginning Factory (2013) 92 DTR 111, has held that as the assessee did not ...

Taxability of income from shares

Taxability of income from shares

Many people have an idea that the income received from shares is exempt from income tax. But in reality it is not so. One should know the tax implicat...

How to file the income tax return of a deceased assessee?

How to file the income tax return o...

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and successors and such h...

All about capital gains tax

All about capital gains tax

There are many assets such as real estate, gold, silver, etc. in which one invests. The gains from these investments are called capital gains. These a...

INCOME TAX ARTICLES

Penalty under section 271(1) (c) cannot be levied merely on the ground that the assessee agrees to an addition made by the AO for purchasing his peace of mind

Penalty under section 271(1) (c) cannot be levied merely on the ground that the assessee agrees to an addition made by the AO for purchasing his peace of mind

The Karnataka High Court in the recent case of CIT vs. Manjunatha Cotton and Ginning Factory (2013) 92 DTR 111, has held that as the assesse...

INSURANCE UPDATES

SBI- Life Sudarshan Plan

[caption id="attachment_2007" align="alignleft" width="200"] Buying an Insurance[/caption] Insura...

SERVICE TAX UPDATES

arrears of deceased

Is there a Waiver in Arrears of Penalty for Deceased Individuals?

The proposition There are various corporate laws, which are applicable on any working individual. However, certain issues have been missi...

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