Manager

An assessee’s method of accounting cannot be rejected merely because it gives him some advantage 2 min read

• Income Tax

An assessee’s method of accounting cannot be rejected merely because it gives him some advantage

Manager 11 years ago

The ITAT Ahmadabad in the case of Ms. Ambuja Oil Industries vs. the Income Tax Officer, 2014 (11) TMI 647, held that the regular method... Read More

Text of Request made to CBDT for DEFERMENT OF NEW AUDIT REPORT for ASSESSMENT YEAR 2015-16. 5 min read

• Income Tax

Text of Request made to CBDT for DEFERMENT OF NEW AUDIT REPORT for ASSESSMENT YEAR 2015-16.

Manager 11 years ago

As members of the Institute would be aware that CBDT has introduced new format for uploading Tax Audit Report for the Assessment Year 2014-15 relevant... Read More

Income Tax Scrutiny Aspects In India 3 min read

• Income Tax

Income Tax Scrutiny Aspects In India

Manager 12 years ago

In general, income tax department cannot assess all the income tax returns filed in one financial year. Hence, normally random scrutiny for assessing the assessee... 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?

Manager 12 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

“A judge can change his mind before pronouncing a judgment” –declares the Apex court 5 min read

• Income Tax

“A judge can change his mind before pronouncing a judgment” –declares the Apex court

Manager 12 years ago

The Apex Court in a recent judgment held that despite pronouncing a judgment in an open court a Judge can change his view until the... Read More

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

Manager 12 years ago

In this hi-tech era, digitization has covered everything in financial market. How can EPFO stay behind? Now EPF investors can get all details of their... Read More

Non-filing of income tax return may lead to prosecution as held by the Apex Court 2 min read

• Income Tax

Non-filing of income tax return may lead to prosecution as held by the Apex Court

Manager 12 years ago

The Apex Court in one of its recent judgment held that non-filing of income tax return may lead to prosecution under the Income Tax Act.... Read More

Which LIC Policy Is Best For Me? 2 min read

• Insurance

Which LIC Policy Is Best For Me?

Manager 12 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

Calculation of interest under Section 234 A, B and C of the Income Tax Act 3 min read

• Income Tax

Calculation of interest under Section 234 A, B and C of the Income Tax Act

Manager 12 years ago

If someone files his income tax return after the due date, he shall be liable to pay penal interest as per section 234 of the... Read More

F& O transactions are non-speculative business transactions 3 min read

• Income Tax

F& O transactions are non-speculative business transactions

Manager 12 years ago

Taxpayers in India whether they are salaried people or not, prefer to involve themselves in share trading as it is an easy way of earning... Read More