India has gone digital from groceries to ITR filing online. However, income tax return registration has become easy; there is a cliché to it. The... Read More
There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More
CBDT Instruction regarding Compulsory Manual Selection of Cases for Scrutiny during FY 2015-2016
5 min read
The CBDT (Central Board of Direct Taxes) has issued the above Instruction on August 31, 2015 to lay the parameters for compulsory manual selection of... Read More
The debate as to whether “mens rea” is an essential ingredient for levy of penalty has been never ending. It is a common issue as... Read More
APPLICIABILITY: The Central Government hereby notifies the income computation and disclosure standards as specified in the Annexure to be followed by all assessees, following the... Read More
The Bombay High Court in the case of Hindustan Unilever Limited vs. Deputy Commissioner of Income Tax-1 (1) and Others, 2015 (7) TMI 366, has... Read More
Meaning of the term “compounding of offences”: Compoundable offences are those offences that can be conciliated by the parties between themselves. The permission of the... Read More
All about Representative Assessee
3 min read
Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More
Can one raise a claim before the appellate authorities which has not been raised before the AO?
3 min read
The Income Tax Appellate Tribunal, Bangalore in Sri Lakhan Singh vs. Asst. Commissioner of income Tax (ITA No.1025/Bang/2011) has held that the claim of the... Read More
Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act
14 min read
Income Tax – Section 54F. – Whether in the absence of completion and possession by way of registration and transfer of its title of flats... Read More