Income Tax

Section 195 – TDS for Non-Resident Indians 3 min read

• Income Tax

Section 195 – TDS for Non-Resident Indians

Diksha Garg 6 years ago

Section 195 of the Income Tax Act, 1961, is all about the Tax Deducted at Source (TDS) for Non-Resident Indians. This section basically highlights the... Read More

The Most Helpful Tips for NRI’s to Fill Income Tax 3 min read

• Income Tax

The Most Helpful Tips for NRI’s to Fill Income Tax

Diksha Garg 6 years ago

There is always some confusion when it comes to an NRI and income which is taxable in India. Mentioned below are a few basics on... Read More

Benami Transactions Informants Reward Scheme 5 min read

• Income Tax

Benami Transactions Informants Reward Scheme

Diksha Garg 6 years ago

Under the Scheme, an informant can be provided interim and the final reward only the competent authority. The interim reward will be granted if the informant has provided the specific information pertaining to the Benami property in the format prescribed in Annexure-A and has received an Informant code as well. ... Read More

A Defect in The Notice – Does it invalidate the Penalty Proceedings? 2 min read

• Income Tax

A Defect in The Notice – Does it invalidate the Penalty Proceedings?

Diksha Garg 6 years ago

The Income Tax Appellate Tribunal’s (ITAT) Jaipur bench has held that the complete proceeding against the assessee would be nullified in case of a defect... Read More

New NRI’s targeted in the India’s Income Tax Evasion Crackdown 2 min read

• Income Tax

New NRI’s targeted in the India’s Income Tax Evasion Crackdown

Diksha Garg 6 years ago

The income tax authorities in India are looking into the ‘residential’ status of many non-resident Indians (NRIs) with an aim to target undisclosed assets overseas.... Read More

Failure to file Income Tax Returns: Fine or Jail? 2 min read

• Income Tax

Failure to file Income Tax Returns: Fine or Jail?

Diksha Garg 6 years ago

Yes, it’s time for the spying eye of the taxman! The last date to file your I-T returns for the year 2018-19 is July 31.... Read More

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 6 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

Prerequisites for Reopening of assessment beyond a period of 4 years 2 min read

• Income Tax

Prerequisites for Reopening of assessment beyond a period of 4 years

Diksha Garg 6 years ago

What is section 143(3) of the Income Tax Act? Section 143(3) under the Income Tax Act 1961 refers to the Income Tax Notice pertaining to... 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 6 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

CASE: NuPower Renewables Pvt. Ltd (Petitioner) vs. ACIT (Bombay High Court) 6 min read

• Income Tax

CASE: NuPower Renewables Pvt. Ltd (Petitioner) vs. ACIT (Bombay High Court)

Diksha Garg 6 years ago

For the Assessment Year 2011-12, the Petitioner NuPower Renewables Pvt. Ltd filed the income return on 29th September 2011, declaring loss of Rs.5.97 Crores (rounded... Read More