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
Income Tax
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
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
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
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, 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. 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. Details of M/s Brothers... Read More
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
The notice under the provisions of section 143(2) of the Income tax Act is issued when the Assessing Officer (AO) evaluates the tax return submitted... Read More
