1961
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Income Tax
INCOME TAX INFORMANTS REWARD SCHEME 2018
A new reward scheme has been introduced in supersession of the ‘Guidelines for grant of rewards to Informants, 2007’ and…
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Insurance
Life Insurance Policy Payouts – Are they Taxable or Not?
The basic idea about life insurance policies is that they are tax-free. But this might be subject to conditions and/or…
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Income Tax
Tax Implications on Conversion of Partnership firm in Private Limited Company
A partnership firm and a limited company are two different entities, in terms of legal liability. The company holds its independent…
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Income Tax
Do’s and don’ts of a Survey under the Income Tax Act, 1961
The term “Survey” has not been defined in the Income Tax Act. However as per Concise Oxford Dictionary, “Survey” means…
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Income Tax
APPEALS PROCEEDINGS UNDER INCOME TAX ACT, 1961
The term appeal has nowhere been defined under the Income Tax Act. However as per Mozley and Whiteley’s Law Dictionary…
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