It has been recently proposed that in case of non-deduction or non-payment of TDS on payments made to residents of the country according to section... Read More
The Revenue department has warned the tax deductors who are defaulters in depositing TDS to prosecute them for such failure. It is often found that... Read More
Chapter VIA of the Income Tax Act, 1961 deals with deductions allowed to assessees under section 80 of the Act. The assessee can reduce its... Read More
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
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