Income Tax

How can you save tax through investment in your spouse’s name? 2 min read

• Income Tax

How can you save tax through investment in your spouse’s name?

10 years ago

Many tax savings instruments provide  investment in the name of spouse, children or parents, subject to few restrictions. One can open a fixed deposit or purchase... Read More

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income 4 min read

• Income Tax

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income

10 years ago

The profits arising out of sale of an agricultural land which is far away from the limits of municipality cannot be treated as a regular... Read More

Income Tax Department launches Toll-free line for complaints related to black money in elections 2 min read

• Income Tax

Income Tax Department launches Toll-free line for complaints related to black money in elections

10 years ago

In the run up to the upcoming Assembly polls in Delhi, the Income Tax Department has launched a Toll-free number – 1800 110 132 –... Read More

compounding of offences under the Income Tax Act approved by SIT

• Income Tax

compounding of offences under the Income Tax Act approved by SIT

10 years ago

NRI liable to pay Income Tax on the income earned in India 2 min read

• Income Tax

NRI liable to pay Income Tax on the income earned in India

10 years ago

According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More

Implications of mentioning wrong section in TDS challan 2 min read

• Income Tax

Implications of mentioning wrong section in TDS challan

10 years ago

The ITAT, Jaipur in the case of Income Tax Officer, TDS, Alwar vs. LIC of India , 2015 (10) TMI 2439 , has held that... Read More

Submit the Creditors’ Details with PAN to Avoid Penalties 2 min read

• Income Tax

Submit the Creditors’ Details with PAN to Avoid Penalties

Aditijh 10 years ago

The reason why conventional methods of filing a tax include consulting an auditor to calculate your income, the tax that comes with it and the... Read More

Draft Assessment – Bombay High Court Judgment 2 min read

• Income Tax

Draft Assessment – Bombay High Court Judgment

10 years ago

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

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