Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

8 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More

Cost Inflation Index Does it Affect Your Pocket 2 min read

• Income Tax

Cost Inflation Index Does it Affect Your Pocket

8 years ago

Cost Inflation Index has become the every country’s matter of concern in these fluctuating economic conditions. So far India is concerned, the country is constantly experiencing... Read More

SBI- Life Sudarshan Plan

• Income Tax

SBI- Life Sudarshan Plan

8 years ago

Penalty under section 271 (1) (c) cannot be levied only as there has been an addition based on valuation of the Registering Authority 5 min read

• Income Tax

Penalty under section 271 (1) (c) cannot be levied only as there has been an addition based on valuation of the Registering Authority

8 years ago

The ITAT Hyderabad in the case of Bhavya Anant Udeshi Hyderabad-500034 having PAN AALPUB8857A (appellant) vs. The Income Tax Officer (International Taxation)-I, Hyderabad- 500004 (respondent),... Read More

Books of account cannot be rejected if TDS has been deducted 4 min read

• Income Tax

Books of account cannot be rejected if TDS has been deducted

8 years ago

The ITAT Pune in the case of VV Constructions v ACIT (ITAT Pune), ITA No. 1641/PN/2013 on 12.06.2015 held that books of account cannot be... Read More

Share application money cannot be considered as undisclosed income if identity of the share applicants is available 3 min read

• Income Tax

Share application money cannot be considered as undisclosed income if identity of the share applicants is available

8 years ago

The Hon’ble Delhi High Court on 12.8.15 in the cases of Commissioner of Income Tax – 9 (Appellant) vs. Vrindavan Farms (P) Ltd. (Respondent) being... Read More

Penalty under section 271C cannot be imposed in absence of willful disobedience of the assessee

• Income Tax

Penalty under section 271C cannot be imposed in absence of willful disobedience of the assessee

8 years ago

compounding of offences under the Income Tax Act approved by SIT

• Income Tax

compounding of offences under the Income Tax Act approved by SIT

8 years ago

Tax evasion likely to become a criminal offence in the country 3 min read

• Income Tax

Tax evasion likely to become a criminal offence in the country

8 years ago

The government has declared to make tax evasion a criminal offence in the country very shortly. It would prosecute offenders with an object to check... Read More

Penalties for Having a Fake or Duplicate PAN Card 2 min read

• Income Tax

Penalties for Having a Fake or Duplicate PAN Card

8 years ago

Presently, there are more than 12 lakh duplicate PAN (Permanent Account Number) card holders existing in our country. Though the government denies the allegations of... Read More