Different kinds of penalties for defaults under the Income Tax Act 3 min read

• Income Tax

Different kinds of penalties for defaults under the Income Tax Act

10 years ago

Penalty for default is imposed with the object to encourage tax compliance in India. The Income Tax Act, 1961 deals with different kinds of penalties... Read More

Rates of Income Tax and TDS for past 10 years 2 min read

• Income Tax

Rates of Income Tax and TDS for past 10 years

10 years ago

Companies must start calculating the payable tax amount for every year and start deducting tax from the salary of the employees at an average rate.... Read More

How to rectify an income Tax Return filed by an assessee? 2 min read

• Income Tax

How to rectify an income Tax Return filed by an assessee?

10 years ago

After filling an Income Tax Return, the department verifies the same by going through the information given by the assessee in his return of income.... Read More

How to Tackle an Income Tax Raid? 2 min read

• Income Tax

How to Tackle an Income Tax Raid?

10 years ago

An Income Tax Raid is carried out by the Income Tax Department on the basis of information obtained through investigation by the department and after... Read More

All about clubbing of income of spouse and children 4 min read

• Income Tax

All about clubbing of income of spouse and children

10 years ago

According to the provisions of the Income tax Act, 1961, a person is taxed not only for his own income but sometimes also for the... Read More

Is Prosecution the Best Deterrance for Tax Evasion? 2 min read

• Income Tax

Is Prosecution the Best Deterrance for Tax Evasion?

10 years ago

An interesting issue at present is whether criminal prosecution is an effective deterrence for tax evasion in India. Does the Government actually consider that prosecution... Read More

Know all about relief in case of Double Taxation under section 90 and 91 2 min read

• Income Tax

Know all about relief in case of Double Taxation under section 90 and 91

10 years ago

In all nations of the world tax is levied on the basis of “Source” and “Residence”. The source denotes that income should be taxed in... Read More

Impact of the Companies Act, 2013 on audit and auditors 4 min read

• Income Tax

Impact of the Companies Act, 2013 on audit and auditors

10 years ago

The long-awaited Companies Bill 2013 was finally passed by the Lok Sabha on 18.12.2012 and by the Rajya Sabha on 8.8.2013. After receiving the assent... Read More

All about reopening of assessment 3 min read

• Income Tax

All about reopening of assessment

10 years ago

Reassessment is one of the vital weapons in the hands of the Income Tax Department which empowers the Assessing Officer to reassess the income, turnover... Read More

TDS deducted by an employer cannot be recovered from an employee if it is not deposited duly 3 min read

• Income Tax

TDS deducted by an employer cannot be recovered from an employee if it is not deposited duly

10 years ago

Where a company has deducted Tax at Source (TDS) from the salary of an employee, but did not deposit the same to the Government treasury,... Read More