PF Investment: EPF and PPF Investment for FY 2013-2014 2 min read

• Income Tax

PF Investment: EPF and PPF Investment for FY 2013-2014

10 years ago

Employee Provident Fund (EPF) is maintained by Employee Provident fund Organization (EPFO). After a 1.25% decline in the year 2011-12, EPF rate was 8.25%. EPFO... Read More

Investigation under the provisions of the Income Tax Act 3 min read

• Income Tax

Investigation under the provisions of the Income Tax Act

10 years ago

According to the Oxford English Dictionary, the term “investigation” refers to “the official examination of the facts regarding a situation or a crime.” For the... Read More

When and How To Complain Against Assessing IT Officer 2 min read

• Income Tax

When and How To Complain Against Assessing IT Officer

10 years ago

It is not that always the income tax payer is on the wrong side. Sometimes, the behavior and the attitude of the income tax assessing... Read More

Getting income tax refunds from tax ombudsman 2 min read

• Income Tax

Getting income tax refunds from tax ombudsman

10 years ago

Most unfortunately in India many of the honest tax payers have pending income tax refunds. Either it is due to the delay on behalf of... Read More

Change of opinion cannot be a ground for notice of Reassessment 3 min read

• Income Tax

Change of opinion cannot be a ground for notice of Reassessment

10 years ago

It has been held recently in Maruti Suzuki India Ltd. vs. Dy. CIT 356 ITR (Delhi) 209 that mere change of opinion of the Assessing... Read More

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

10 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

All about Income Tax Raid 4 min read

• Income Tax

All about Income Tax Raid

10 years ago 2

One should not keep any unaccounted or undeclared money, jewellery or any kind of wealth, commonly known as black money. All such income should always be... Read More

Rules Relating to Gift Tax in India 2 min read

• Income Tax

Rules Relating to Gift Tax in India

10 years ago

Your mother transferred an amount of money to your bank account for helping you for a certain reason. Have you ever thought that is there... Read More

Penalty cannot be levied for concealment in a case an assessee has not filed his return 2 min read

• Income Tax

Penalty cannot be levied for concealment in a case an assessee has not filed his return

10 years ago

The Madras High Court in the case of Santosha Nadar v. First Addl. ITO and Another, (1962) 46 ITR 411 (Mad.) has analyzed the issue... Read More

Can one claim deduction or exemption if missed in form 16? 2 min read

• Income Tax

Can one claim deduction or exemption if missed in form 16?

10 years ago

When salaried people file their final proofs relating to tax, if an employee fails to file any detail, the deduction claimed by him is not... Read More