Taxability of amount received from Life insurance proceeds on maturity 2 min read

• Income Tax

Taxability of amount received from Life insurance proceeds on maturity

10 years ago

Many people think that the benefit amount they receive on the maturity of all life insurance policies is exempt from income tax. However that is... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

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

10 years ago

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... Read More

No disallowance for non-deduction of TDS if the receiver has paid income tax on the same 3 min read

• Income Tax

No disallowance for non-deduction of TDS if the receiver has paid income tax on the same

10 years ago

The Hon’ble Income Tax Appellate Tribunal, Agra Bench (Agra) in the case of Rajeev Kumar Agarwal vs. Additional Commissioner of Income Tax (ITA No. 337/Agra/2013)... Read More

Defective returns due to unpaid self-assessment tax for AY 2013-2014

• Income Tax

Defective returns due to unpaid self-assessment tax for AY 2013-2014

10 years ago

Save tax by making donations to charitable institutions under section 80G 2 min read

• Income Tax

Save tax by making donations to charitable institutions under section 80G

10 years ago

To promote charity towards the poor class of the society, the government of India is encouraging people to give donations which can also be claimed... Read More

Having tax problem? Ask ombudsman for help 2 min read

• Income Tax

Having tax problem? Ask ombudsman for help

10 years ago

Are you struggling to get your refund from the Income Tax department? Are you been harassed many times for an income tax scrutiny for the past... Read More

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax 4 min read

• Income Tax

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax

10 years ago

Recently in the case of M/s. Smita Conductors Ltd. vs. the Deputy Commissioner of Income Tax, ITA No. 4004/Mum/2011 by a judgment it has been... Read More

All about Wealth Tax 3 min read

• Income Tax

All about Wealth Tax

10 years ago

In India the Wealth Tax Act puts an obligation upon people to pay tax on the wealth held by them. It is payable on the... Read More

Allotment of shares of a new corporate body cannot be taxed under the head “income from other sources” 4 min read

• Income Tax

Allotment of shares of a new corporate body cannot be taxed under the head “income from other sources”

10 years ago

The Mumbai Income Tax Appellate Tribunal held in a recent judgment that the allotment of shares at premium by a newly incorporated company should not... Read More

EPF or PPF: Provident Fund As Future Investment Instrument 3 min read

• Income Tax

EPF or PPF: Provident Fund As Future Investment Instrument

10 years ago

The prime motive of the government of any country is to provide the financial stability to all its citizens, especially in their elderly age when... Read More