As per the memorandum of the Finance Bill 2017, the Income tax department can reopen old cases and the books of accounts of an assessee... Read More
As per section 68 of the Income Tax Act, if the shares are issued at the premium which defies commercial prudence, the receipt of such... Read More
The offshore Rupee denominated bonds, generally known as the masala bonds, got a tax benefit when the government during the Budget 2017 exempted them from... Read More
Sub-section (1) and Sub-Section (1A) of section 132 of the Income Tax Act, 1961 provides that where the authority stated therein, depending on the information in his... Read More
The Central Government has over the period moved its focus more on voluntary compliance. Certain certificates and certification of reports by a qualified professionals have... Read More
Capital gains on transfer of capital assets including immovable property may decline after the announcement of change in base year of Indexation from 1981 to 2001... Read More
The Highs and Lows of the Union Budget 2017
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India’s 2017 budget brings a hike in government spending and reduces taxes as Prime Minister Narendra Modi assures to help the deprived and the poor... Read More
The assessing officer has a legal obligation to pass a draft order before he passes an assessment order to make Additions to the Returned Income... Read More
In this article, we will try to understand the draft model of GST that could be modified in. It is important for us to understand... Read More
In the case of CIT vs. Gulab Devi Memorial Hospital Trust (P&H High Court), the CIT (Commissioner of Income Tax) overruled the claim made by... Read More