Can penalty under section 234E of the Income Tax act be waived of under any circumstances? 2 min read

• Income Tax

Can penalty under section 234E of the Income Tax act be waived of under any circumstances?

10 years ago

If a tax payer is charged with a penalty according to the provisions of section 234E of the Income Tax Act, the same has to... Read More

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

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART II

10 years ago

Continued from Provision Of Reassessment Under Income Tax Act 1961- PART I Case Situation 3 In case, the assessee has to file u/s 92 E reports against... Read More

The assessee-deductor is not liable to pay the fee for default in filing TDS statements prior to the amendment to section 200A 4 min read

• Income Tax

The assessee-deductor is not liable to pay the fee for default in filing TDS statements prior to the amendment to section 200A

10 years ago

The ITAT at Amritsar in the case of Sibia Healthcare Private Limited St No. 8, Ajit Road, Bhatinda 151 001 (TAN – PTLS15043A) (Appellant) vs.... Read More

High Value Transactions To Attract Income Tax Scrutiny

• Income Tax

High Value Transactions To Attract Income Tax Scrutiny

10 years ago

Section 54F does not require completion of the residential house within three years 4 min read

• Income Tax

Section 54F does not require completion of the residential house within three years

10 years ago

The Hon’ble High Court at Karnataka on 13.7.15 has held that the provisions of section 54F are beneficial in nature and should be interpreted liberally.... Read More

The consequences of late filing of TDS returns or statements 3 min read

• Income Tax

The consequences of late filing of TDS returns or statements

10 years ago

Any failure on the part of a deductor in filing of TDS returns or statements or late filing of TDS returns or statements shall attract... Read More

How to Lodge Complaint Against Illegal Behavior of Assessing Officers? 2 min read

• Income Tax

How to Lodge Complaint Against Illegal Behavior of Assessing Officers?

10 years ago

It is not that always the assessee who is wrong. At times, the behavior and the attitude of the Assessing Officers and other staff of... Read More

When can an Assessing Officer reject books of accounts? 2 min read

• Income Tax

When can an Assessing Officer reject books of accounts?

10 years ago

If the Assessing Officer is not satisfied regarding the authenticity or completeness of the books of accounts maintained by the assessee or where in his... Read More

Effects of Not Filing Income Tax Return in Time 2 min read

• Income Tax

Effects of Not Filing Income Tax Return in Time

10 years ago

Though filing of Income Tax return is voluntary but the Government of India has made the filing of return for any income which is taxable... Read More

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent 2 min read

• Income Tax

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent

10 years ago

The Income Tax Act, 1961 provides special deductions in the income tax of a taxpayer who has a disabled or ailing dependent for whom the... Read More