Income Tax

Can income assessed by the Assessing officer be less than the income filed in the return? 3 min read

• Income Tax

Can income assessed by the Assessing officer be less than the income filed in the return?

Aditijh 11 years ago

It has been held by the Allahabad High Court in the case of Commissioner of Income Tax – II vs. Har Dayal Singh, Kanpur, 2015... Read More

Defective returns due to unpaid self-assessment tax for AY 2013-2014

• Income Tax

Defective returns due to unpaid self-assessment tax for AY 2013-2014

11 years ago

How to Tackle an Income Tax Raid? 2 min read

• Income Tax

How to Tackle an Income Tax Raid?

11 years ago

An Income Tax Raid is carried out by the Income Tax Department on the basis of information obtained through investigation by the department and after... Read More

F&O transactions are non-speculative business transactions 2 min read

• Income Tax

F&O transactions are non-speculative business transactions

11 years ago

Taxpayers in India whether their source of income is business or job, prefer to involve themselves in share trading as it is an easy way... Read More

Remedies available to assessees if employer fails to deposit the deducted TDS 3 min read

• Income Tax

Remedies available to assessees if employer fails to deposit the deducted TDS

11 years ago

The Revenue department has warned the tax deductors who are defaulters in depositing TDS to prosecute them for such failure. It is often found that... Read More

The dilemma of purchasing immovable property from a non-resident

• Income Tax

The dilemma of purchasing immovable property from a non-resident

11 years ago

It is not necessary that books of account should compulsorily be rejected when a survey is conducted 3 min read

• Income Tax

It is not necessary that books of account should compulsorily be rejected when a survey is conducted

Aditijh 11 years ago

The ITAT, Chandigarh in the case of M/s Venus Woolen Mills vs. The CIT-III, [2014] 36 ITR (Trib.) 388 Ludhiana, has held that it is... Read More

A summary on some uncommon tax saving tips 2 min read

• Income Tax

A summary on some uncommon tax saving tips

11 years ago

For many people ‘tax savings’ mean sand include life insurance policies, National Savings Certificates , etc. which qualify for tax deduction as provided in  Section 80 C... Read More

Tax benefit under section 54 of the Income Tax Act 5 min read

• Income Tax

Tax benefit under section 54 of the Income Tax Act

Akanksha 11 years ago

An assessee can claim exemption from capital gains on sale of house property according to the sections 54, 54B, 54D, 54EC, 54F and 54G of... Read More

Concealing foreign assets will attract penalty 4 min read

• Income Tax

Concealing foreign assets will attract penalty

11 years ago

Declaring foreign assets in the income tax return has been made mandatory in the Assessment Year 2012-13. Only Indian residents having the status of ‘resident... Read More