Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART II 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART II

Manager 10 years ago

Provision Of Reassessment Under Income Tax Act 1961- PART I Case Situation 3 In case, the assessee has to file u/s 92 E reports against some international... Read More

Are the properties purchased from NRIs subjected to TDS? 2 min read

• Income Tax

Are the properties purchased from NRIs subjected to TDS?

Manager 10 years ago

Tax has to be deducted at source when someone makes payment to a NRI vendor for purchasing a property. Non-deduction of tax at source at the time... Read More

Deemed Dividend under section 2(22) explained 3 min read

• Income Tax

Deemed Dividend under section 2(22) explained

Manager 10 years ago

Deemed dividend under section 2(22) from an Indian company or any dividend that is received from a foreign company is taxable in the hands of... Read More

Glimpses of the Black Money Bill 3 min read

• Income Tax

Glimpses of the Black Money Bill

Manager 10 years ago

The government has recently introduced the Undisclosed Foreign Income and Assets Bill, 2015, commonly known as the Black Money Bill. The income tax department has... Read More

CBDT extends the time for filling tax audit report 2 min read

• Income Tax

CBDT extends the time for filling tax audit report

Manager 10 years ago

The Central Board of Direct Taxes has extended the deadline for filing tax audit report as per section 44AB of the Income Tax Act,1961, from... 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

10 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

If the Assessee discharges the primary burden of proving creditworthiness of creditors, the onus shifts upon revenue to prove otherwise 5 min read

• Income Tax

If the Assessee discharges the primary burden of proving creditworthiness of creditors, the onus shifts upon revenue to prove otherwise

10 years ago

The ITAT, Lucknow Bench in the case of Vishnu Jaiswal vs. Commissioner of Income Tax (Appeals), IT Appeal No. 336 of 2011 for the (Assessment... Read More

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns 2 min read

• Income Tax

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns

Aditijh 10 years ago

The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Income tax return filed by the assessee... Read More

Summons issued to persons for personal attendance under section 131 of the Income Tax Act 2 min read

• Income Tax

Summons issued to persons for personal attendance under section 131 of the Income Tax Act

10 years ago

Section 131 of the Income Tax Act provides power to the income tax authorities to summon witnesses,  to force production of books of account and other documents as well as... 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?

10 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