Income Tax

Online Correction of E -TDS return made possible on Traces Website 2 min read

• Income Tax

Online Correction of E -TDS return made possible on Traces Website

9 years ago

As part of a fresh initiative and new development, website of TDSCPC (TRACES) have now made possibility of online correction of e-TDS returns on their... Read More

Effect Of Depreciating Value Of Rupee On Indian Economy 2 min read

• Income Tax

Effect Of Depreciating Value Of Rupee On Indian Economy

9 years ago

Every country in the world has its own currency except Europe Nations. The whole continent of Europe has only one global exchange currency i.e. Euro.... Read More

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A? 3 min read

• Income Tax

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A?

9 years ago

The Finance Bill 2013 has incorporated a new section 194-IA in the Income Tax Act. According to the provision TDS at the rate of 1%... Read More

No addition of income based on a statement recorded during a survey 4 min read

• Income Tax

No addition of income based on a statement recorded during a survey

9 years ago

The ITAT Kolkata on 06.05.2015 has held that no addition of income can be allowed based on a statement recorded under the provisions of section... Read More

Income Tax Rules For Clubbing Income In IT Returns 3 min read

• Income Tax

Income Tax Rules For Clubbing Income In IT Returns

9 years ago

Income tax law has many sections that provide tax relief and tax exemption to the income tax payer.On the other hand, there is Section 64... Read More

Tax implications of unexplained investment 4 min read

• Income Tax

Tax implications of unexplained investment

9 years ago

There is no bar in making investments from source of funds which can be explained by an assessee. But at some times investment is made... Read More

Impacts of Non-issuance of TDS certificate within time 2 min read

• Income Tax

Impacts of Non-issuance of TDS certificate within time

9 years ago

There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More

Do donations help to minimize an individual’s tax liability? 2 min read

• Income Tax

Do donations help to minimize an individual’s tax liability?

9 years ago

In the tax-planning season, most people rush to make investments to reduce their tax liability. It is found that individuals pay more taxes than they... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

How to file the income tax return of a deceased assessee?

9 years ago

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and... Read More

CBDT procedure for launching prosecution for TDS-TCS default 3 min read

• Income Tax

CBDT procedure for launching prosecution for TDS-TCS default

9 years ago

The Central Board of Direct Taxes has laid down a procedure for launching prosecution for TDS-TCS default. In connection with the above the CBDT has... Read More