Income Tax

Offences under Chapter XXII of the Income Tax Act, 1961 5 min read

• Income Tax

Offences under Chapter XXII of the Income Tax Act, 1961

10 years ago

Chapter XII of the Income Tax Act, 1961 dealing with the offences is always important for anyone concerned about the law relating to Income Tax... Read More

Levy of Penalty U/S 271D 2 min read

• Income Tax

Levy of Penalty U/S 271D

10 years ago

Digitization has helped curb the way for online payments of most of the taxes in India. This way, individuals from urban and rural areas can... Read More

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

10 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

Appeals should not be filed by the Revenue on settled issues

• Income Tax

Appeals should not be filed by the Revenue on settled issues

10 years ago

Insurance Scenario in India 2 min read

• Income Tax

Insurance Scenario in India

Manager 10 years ago

With over a billion people, India is fast becoming a global economic power. With a relatively youthful population, India will become an attractive insurance market... Read More

Taxability of income from shares 3 min read

• Income Tax

Taxability of income from shares

Manager 10 years ago

Many people have an idea that the income received from shares is exempt from income tax. But in reality it is not so. One should... Read More

CBDT to make scrutiny guidelines public 4 min read

• Income Tax

CBDT to make scrutiny guidelines public

Manager 10 years ago

The CBDT has issued an instruction on 02.09.2014 announcing that the criteria for selection of cases for scrutiny for the financial year 2014 -15 shall... Read More

Gujarat High Court held only receipt of income is not taxable income 2 min read

• Income Tax

Gujarat High Court held only receipt of income is not taxable income

Manager 10 years ago

The Gujarat High Court in a recent judgment held that only receiving a sum of money cannot be chargeable to income tax. The Gujarat High... Read More

Section 40A (3) disallowance applicable to payment by means of crossed cheque 2 min read

• Income Tax

Section 40A (3) disallowance applicable to payment by means of crossed cheque

Manager 10 years ago

The Gujarat High Court in a recent judgment pronounced on 26.4.2014 in the case of Rajmoti Industries vs. ACIT, held that payment through any crossed... Read More

In an arrangement made between the family members being Directors of the company the difference in rate cannot be considered for the levy of capital gains tax 4 min read

• Income Tax

In an arrangement made between the family members being Directors of the company the difference in rate cannot be considered for the levy of capital gains tax

Manager 10 years ago

The Income Tax Appellate Tribunal, Hyderabad ‘B’ Bench, Hyderabad has recently held that in an arrangement made between the family members being Directors of the... Read More