Business Expenditure in Income Tax Act under Section 37(1)
Business expenditure -income tax act u/s 37(1) states that if a director of company hires lawyers to represent his favor in court then his/her expenditure... Read More
Income Tax
Major Reform – Goods and Service Tax Bill Introduced in India,
Recently, Government of India has passed the Goods and Service tax bill in India. Taxes in India were collected in two forms i.e. State Government... Read More
The key to Tax Planning
3 min read
Tax Planning deals with making investments for the purpose of reducing the tax liability and increasing returns. Let us know the key to tax planning... Read More
Income Tax Forms download and which form is best for me
Depending upon your income, you need to use different income tax forms which can be easily downloaded from the official website of Income Tax Department... Read More
Does loan transaction between a firm and its partner attract provisions of section 269SS?
2 min read
The question was raised as to whether a loan transaction between a firm and its partner attracts the provision of Section 269SS of the Income... Read More
Draft Assessment – Bombay High Court Judgment
The draft assessment request on 30th March, 2015 was even with the choice for the Supreme Court in GKN Driveshafts (India) Ltd v/s Income Tax Officer and Others reported... Read More
How to file an Electronic Audit Report?
2 min read
New e-filing site launched by the Income Tax department: The Income Tax department has begun a new e-filing website. Taxpayers can LOGIN at the website... Read More
Income Tax Scrutiny Aspects In India
3 min read
In general, income tax department cannot assess all the income tax returns filed in one financial year. Hence, normally random scrutiny for assessing the assessee... Read More
ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar 
Tax Officials Unleash Digital Dragnet: How New Raid Powers Redefine Privacy, Property Rights in India and likely to Fuel Corruption 
Income Tax Department Rewards for Reporting Tax Evasion: A Comprehensive Guide 
Forfeiture of Gratuity by Employer- What are the Remedies for an employee- Can employer be challenged?