Income Tax

Some of the Best Income Tax Judgements for 2018 that can help plan your income tax liability 4 min read

• Income Tax

Some of the Best Income Tax Judgements for 2018 that can help plan your income tax liability

Diksha Garg 2 years ago

Each and every year, numerous judgments have been delivered on the Income Tax Act. Of all these cases, there are a few which have been... Read More

Tax Evaders can escape by paying penalty? New CBDT Norms state otherwise! 2 min read

• Income Tax

Tax Evaders can escape by paying penalty? New CBDT Norms state otherwise!

Diksha Garg 2 years ago

The Department of Income Tax has come up with revised guidelines according to which serious offenses committed under the benami and black money laws are... Read More

Fudging income, tax breaks gets tougher with the New Format of Form 16 6 min read

• Income Tax

Fudging income, tax breaks gets tougher with the New Format of Form 16

Diksha Garg 2 years ago

A new format has been notified by the CBDT for Form 16, which is the salary TDS certificate. It would be requiring an in-depth break... Read More

Tax Queries on tax deductions pertaining to Long Term Capital Gains and SIPs 2 min read

• Income Tax

Tax Queries on tax deductions pertaining to Long Term Capital Gains and SIPs

Diksha Garg 2 years ago

How to avoid long term capital gains tax under section 54 and 54F of the Income Tax Act, 1961? In order to understand how to... Read More

The Importance of Form 16: Time to make a note of it, Taxpayers 3 min read

• Income Tax

The Importance of Form 16: Time to make a note of it, Taxpayers

Diksha Garg 3 years ago

Form 16 is a TDS (Tax Deducted at source) certificate which is issued by an employer/bank/company as they deduct tax while making payments to its... Read More

Understanding Exemptions under Section 54, 54EC & 54F 5 min read

• Income Tax

Understanding Exemptions under Section 54, 54EC & 54F

Diksha Garg 3 years ago

Section 54 of the Income Tax Act, 1961 provides the seller of a residential property with relief from capital gains tax, if the proceeds from... Read More

The Assessing Officer cannot point Fake Purchase under section 69C 3 min read

• Income Tax

The Assessing Officer cannot point Fake Purchase under section 69C

Diksha Garg 4 years ago

The Assessing Officer cannot point Fake Purchase under section 69C, in a case where all the sales and purchase transactions are appropriately mentioned in the... Read More

If you true in paying the Tax, CIT can also be wrong as clear from this case 3 min read

• Income Tax

If you true in paying the Tax, CIT can also be wrong as clear from this case

Diksha Garg 4 years ago

If you true in paying the Tax, CIT can also be wrong as clear from this case. The assessee filed the appeal in disagreement with... Read More

If a case is manually selected for the inspection, CIT needs to manifest the application of mind for granting approval for scrutiny 3 min read

• Income Tax

If a case is manually selected for the inspection, CIT needs to manifest the application of mind for granting approval for scrutiny

Diksha Garg 4 years ago

If a case is manually selected for the inspection, CIT needs to manifest the application of mind for granting approval for scrutiny. Details of M/s Brothers... Read More

Reopening of assessment- Change of Opinion or Failure to apply Mind- Crescent Construction Co vs. ACIT (ITAT Mumbai) 3 min read

• Income Tax

Reopening of assessment- Change of Opinion or Failure to apply Mind- Crescent Construction Co vs. ACIT (ITAT Mumbai)

Diksha Garg 4 years ago

Discussion on reopening of assessments in the context of “change of opinion” vs. “failure to apply mind,” under s. 147/148, read with section 114 of... Read More