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
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
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
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
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
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
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
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
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
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