Books of account cannot be rejected if TDS has been deducted
The ITAT Pune in the case of VV Constructions v ACIT (ITAT Pune), ITA No. 1641/PN/2013 on 12.06.2015 held that books of account cannot be... Read More
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Deductions under Section 80DDB of the Income Tax Act
Deductions under Section 80DDB of the Income Tax Act are available to an individual or a HUF since 1.4.2004. This kind of deduction is covered... Read More
Comparison between different periodic money back policies of LIC
Money back policies are an instant hit with the people as they fulfill the purpose of investment for general public, especially the middle class community.... Read More
Section 36(1)(iii) – Averting Interest Expenditure
The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Section 36(1)(iii) – Averting Interest Expenditure. Income... Read More
TDS not deductible merely on book entry
2 min read
The Income Tax appellate Tribunal in ITA NO.2603/Mum/2011 (Income Tax Officer vs. M/s Pipavav Shipyard Ltd.) dismissed the appeal of the revenue. TDS not deductible... Read More
Partial Disbursement of Home Loan and Tax Benefits
To understand the tax treatment of getting exemptions under home loan that have been partially received or disbursed by the bank, it is necessary to... Read More
Tax Deduction at Source when Purchasing and Buying Immovable Property
Section 194-IA states that any person, being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of... Read More
Loan Repayments How to Lessen Burden Of Education Loan
So far taking loan or paying back is concerned; the topic is a very inexhaustible one. Let us talk about the ‘Educational Loan” as this... Read More
Analysis of Income tax deduction u/s 80IB
2 min read
Individuals filing online ITR are well aware of the fact that when the income tax act was framed, it not only included the conditions... Read More
Income Tax Act 1961 – Penalties and Prosecution
Income tax has to be paid by every person if the taxable income exceeds their respective basic exemption limit. Income Tax also has several penalties... Read More
ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar 
Tax Officials Unleash Digital Dragnet: How New Raid Powers Redefine Privacy, Property Rights in India and likely to Fuel Corruption 
Income Tax Department Rewards for Reporting Tax Evasion: A Comprehensive Guide 
Forfeiture of Gratuity by Employer- What are the Remedies for an employee- Can employer be challenged?