Input Tax Credit under GST 3 min read

• Income Tax

Input Tax Credit under GST

10 years ago

Goods and Service Tax (in short GST), is a tax reform of present India to implement a new tax regime in the country. The proposed... Read More

Scope of section 133(6) of the Income Tax Act 3 min read

• Income Tax

Scope of section 133(6) of the Income Tax Act

10 years ago

The Income Tax Act gives the Department wide powers of investigation including the power to seek information about an assessee even from outsiders. The information... Read More

Which LIC Policy Is Best For Me? 2 min read

• Income Tax

Which LIC Policy Is Best For Me?

10 years ago

Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More

CBDT issues instruction to help the conduct of scrutiny assessments 3 min read

• Income Tax

CBDT issues instruction to help the conduct of scrutiny assessments

10 years ago

The CBDT has issued an Instruction being No. 20/2015 on 29.12.2015 wherein it has clarified many issues to help the conduct of scrutiny assessments in... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

10 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... Read More

Patna High Court explains the law on accountability of public officials for failure to follow directions 4 min read

• Income Tax

Patna High Court explains the law on accountability of public officials for failure to follow directions

10 years ago

The Patna High Court in the case of M/s Overseas Enterprises having their office at 2263, 1st Floor, Room No. 11, Gali Raghunandan, Naya Bazar,... Read More

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A 4 min read

• Income Tax

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A

10 years ago

The ITAT Mumbai in the case of Sumanlata Bansal( PAN- AAHPB0141N) vs. the Assistant Commissioner of Income Tax, Central Circle 8 Mumbai, ITA nos. 525... Read More

All about Penalty under section 271(1) (c) 2 min read

• Income Tax

All about Penalty under section 271(1) (c)

10 years ago

Section 271(1) (c) of the Income Tax Act, 1961 deals with levy of penalty due to concealment of income by an assessee. Penalty under section... Read More

Implications of mentioning wrong section in TDS challan 2 min read

• Income Tax

Implications of mentioning wrong section in TDS challan

10 years ago

The ITAT, Jaipur in the case of Income Tax Officer, TDS, Alwar vs. LIC of India , 2015 (10) TMI 2439 , has held that... Read More

Assets installed in a discontinued business are too eligible for depreciation 4 min read

• Income Tax

Assets installed in a discontinued business are too eligible for depreciation

10 years ago

The Hon’ble Bombay High Court in the case of Commissioner of Income Tax¬ (Appellant) vs. Sonic Biochem Extractions Pvt. Ltd. (respondent) being ITA No. 2088... Read More