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
Traditionally since ages Income Tax Officers have been harassing tax payers and coercing them to admit to undisclosed income. Not any more now, Well, May... Read More
If you are running a business and your wife is assisting you, paying salary to her if she is not in the income tax bracket... 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
Taxpayers in India whether their source of income is business or job, prefer to involve themselves in share trading as it is an easy way... Read More
Sometimes, tax payers receive intimation of demand or that of refund from the income tax Department under section 143(1) of the Income Tax Act. Intimation... Read More
Chapter XII of the Income Tax Act, 1961 dealing with the offences is always important for anyone concerned about the law relating to Income Tax... Read More
Deemed dividend under section 2(22) from an Indian company or any dividend that is received from a foreign company is taxable in the hands of... Read More
Consequences of Failure to Deduct TDS
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Payment of tax to the government according to the TDS provisions as provided in the Section 201(1A) & Section 40(a) has to be made by... Read More
The Finance Bill, 2013 has inserted an Explanation to section 132B of Income Tax Act, 1961, which states that the “existing liability” does not include... Read More