Aditijh

Facts under which the Penalty may be void under Income Tax Act section 274 2 min read

• Income Tax

Facts under which the Penalty may be void under Income Tax Act section 274

Aditijh 9 years ago

Section 271 (1)(c)  is a penalty notice under section 274 in which the irrelevant portion is not stroke out and which does not also specify... Read More

Definition Of Service As Per Service Tax Act 2 min read

• Income Tax

Definition Of Service As Per Service Tax Act

Aditijh 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

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

Reopening cannot be allowed on the ground of inadvertent mistake 4 min read

• Income Tax

Reopening cannot be allowed on the ground of inadvertent mistake

Aditijh 9 years ago

It has been held recently by the Bombay High Court in the case of Commissioner of Income Tax -11 vs. M/s. Jet Speed Audio Pvt.... Read More

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns 2 min read

• Income Tax

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns

Aditijh 9 years ago

The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Income tax return filed by the assessee... 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

Transfer pricing rules in India 4 min read

• Income Tax

Transfer pricing rules in India

Aditijh 9 years ago

Commercial transactions between the different multinational groups may not take place through the same market forces existing between the two independent companies. One company often... Read More

All you wanted to know about PAN Card 3 min read

• Income Tax

All you wanted to know about PAN Card

Aditijh 9 years ago

What PAN card is? PAN card is like a driving license or an aadhar card which bears a unique number. This unique number is a... Read More

Can income assessed by the Assessing officer be less than the income filed in the return? 3 min read

• Income Tax

Can income assessed by the Assessing officer be less than the income filed in the return?

Aditijh 9 years ago

It has been held by the Allahabad High Court in the case of Commissioner of Income Tax – II vs. Har Dayal Singh, Kanpur, 2015... Read More

Law Relating to Gift Tax in India 2 min read

• Income Tax

Law Relating to Gift Tax in India

Aditijh 9 years ago

Law Relating to Gift Tax in India In the earlier times in India cash gifts of up to Rs 50,000 were tax free but if... Read More