Deduction under Section 80EE of Income Tax Act 3 min read

• Income Tax

Deduction under Section 80EE of Income Tax Act

10 years ago

The Union Finance Minister in the latest Finance Bill has inserted a new section 80EE of the Income Tax Act dealing with additional deduction regarding... Read More

F&O transactions are non-speculative business transactions 2 min read

• Income Tax

F&O transactions are non-speculative business transactions

10 years ago

Taxpayers in India whether their source of income is business or job, prefer to involve themselves in share trading as it is an easy way... Read More

Offences under Chapter XXII of the Income Tax Act, 1961 5 min read

• Income Tax

Offences under Chapter XXII of the Income Tax Act, 1961

10 years ago

Chapter XII of the Income Tax Act, 1961 dealing with the offences is always important for anyone concerned about the law relating to Income Tax... Read More

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