Income Tax

Cost awarded against income tax department for abuse of process of law 2 min read

• Income Tax

Cost awarded against income tax department for abuse of process of law

11 years ago

The Bombay High Court in a recent case imposed a cost of Rs. 1, 00,000/- against the income tax department for abuse of process of... Read More

Deduction under section 80IC allowed to hotels under the category “eco tourism” 2 min read

• Income Tax

Deduction under section 80IC allowed to hotels under the category “eco tourism”

11 years ago

The Income Tax Tribunal, Chandigarh, in The A.C.I.T., Vs. Sh. Raghunath Singh Thakur, ITA No.152 by a judgment dated 22.06.2012 held that deduction under section... Read More

Impact of Budget 2014 on the amount spent towards Corporate Social Responsibility 3 min read

• Income Tax

Impact of Budget 2014 on the amount spent towards Corporate Social Responsibility

11 years ago

The Companies Act, 2013 imposes a liability upon some companies having net profit amounting to Rs. 500 crore or more or an annual turnover of... Read More

Insurance Policy As An Investment 2 min read

• Income Tax

Insurance Policy As An Investment

11 years ago

Insurance Policy – The Investment Investing on insurance policy is one of the most expensive ways of investment. It involves the cost of the insurance... Read More

Proper service of an income tax notice 4 min read

• Income Tax

Proper service of an income tax notice

11 years ago

The ITAT Mumbai in the case of Shri Sanjay Badani vs. DCIT (ITAT Mumbai), SA No.216/Mum/2014 (Arising out of ITA No.5221/Mum/2014) has explained the procedure... Read More

Do’s and don’ts of a Survey under the Income Tax Act, 1961 4 min read

• Income Tax

Do’s and don’ts of a Survey under the Income Tax Act, 1961

11 years ago

The term “Survey” has not been defined in the Income Tax Act. However as per Concise Oxford Dictionary, “Survey” means having a view over anything,... Read More

Calculation of interest under Section 234 A, B and C of the Income Tax Act 3 min read

• Income Tax

Calculation of interest under Section 234 A, B and C of the Income Tax Act

11 years ago

If someone files his income tax return after the due date, he shall be liable to pay penal interest as per section 234 of the... Read More

Definition Of Service As Per Service Tax Act 2 min read

• Income Tax

Definition Of Service As Per Service Tax Act

11 years ago

Definition Of Service As Per Service Tax Act Service as per Service Tax is described as the action that is taken for consideration and is... Read More

Investment in Family Members’ Name Can Help in Tax Planning 2 min read

• Income Tax

Investment in Family Members’ Name Can Help in Tax Planning

11 years ago

An individual assessee gets many exemptions u/s VI. There are various investment opportunities that can fetch tax savings for us. But there is a question,... Read More

Are You Eligible For Income Tax Rebate U/S 87A 2 min read

• Income Tax

Are You Eligible For Income Tax Rebate U/S 87A

11 years ago

In budget 2013-14, taxpayers’ focus was on Section 87A. This section is added in Income Tax act 1961 for the benefit of common man. Section... Read More