Can seized cash be adjusted against advance tax? 2 min read

• Income Tax

Can seized cash be adjusted against advance tax?

10 years ago

The Finance Bill, 2013 has inserted an Explanation to section 132B of Income Tax Act, 1961, which states that the “existing liability” does not include... Read More

How to evaluate fixed maturity plans? 2 min read

• Income Tax

How to evaluate fixed maturity plans?

10 years ago

Fixed maturity plans are often considered as alternatives to banks but they are not so popular with investors due to lack of clarity on the... Read More

The distance of an “agricultural land” should be calculated from the approach road 5 min read

• Income Tax

The distance of an “agricultural land” should be calculated from the approach road

10 years ago

The Hon’ble High Court at Delhi on 14.09.2015 in the case of Commissioner of Income Tax (Appellant) vs. Sri Vijay Singh Kadan (Respondent) being ITA... Read More

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