Income Tax

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

10 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

10 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

10 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

10 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

10 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

10 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

10 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

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

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment 2 min read

• Income Tax

Notice U/S 148 of the Income Tax Act, 1961 – assessment & reassessment

Aditijh 10 years ago

The structure of the India Tax system is quite simple, detailed but differentiable in power among State, Central, and other local governments. There are some... Read More

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved 2 min read

• Income Tax

Penalties Cannot Be Imposed on the Assessee’s Behaviour Unless Misconduct is proved

Aditijh 10 years ago

The case between Indian Income Tax vs. Dalmia Dyechem Industries: – It seems that the section 271 1 c states that any kind of penalty... Read More