The Assessing Office cannot levy a penalty under section 271(1) (c) due to a bonafide mistake on the part of an assessee. This was subsequently... Read More
TDS for Property Sale that is applicable from 1st June 2013 and is deducted at source on sale of immovable property including land and building... Read More
How to rectify a defective return?
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An Assessing Officer can call upon the assessee to rectify a defective return filed by him. This is provided in section 139(9) of the Income... Read More
The Karnataka High Court in the recent case of CIT vs. Manjunatha Cotton and Ginning Factory (2013) 92 DTR 111, has held that as the... Read More
The Hon’ble Income Tax Appellate Tribunal, Agra Bench (Agra) in the case of Rajeev Kumar Agarwal vs. Additional Commissioner of Income Tax (ITA No. 337/Agra/2013)... Read More
Which Is Better: Will or Gift Deed?
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Query: I own a plot of land purchased from my own income and i wish to give it to one of my two sons. Please... Read More
To promote charity towards the poor class of the society, the government of India is encouraging people to give donations which can also be claimed... Read More
Having tax problem? Ask ombudsman for help
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Are you struggling to get your refund from the Income Tax department? Are you been harassed many times for an income tax scrutiny for the past... Read More
The ITAT, Mumbai on 07.01.2015 passed a judgment stating that if an assessee files the revised return of income after the receipt of notice under... Read More