Income Tax

Taxability of income from shares 3 min read

• Income Tax

Taxability of income from shares

Manager 10 years ago

Many people have an idea that the income received from shares is exempt from income tax. But in reality it is not so. One should... Read More

The new Companies Bill aims to put a check upon the “Vanishing Companies” 2 min read

• Income Tax

The new Companies Bill aims to put a check upon the “Vanishing Companies”

Manager 10 years ago

The new Companies Bill seeks to promote class-action suits for corporate frauds. The bill has been passed by the Lok Sabha  in the year 2012. The... Read More

Penalty for concealment 3 min read

• Income Tax

Penalty for concealment

Manager 10 years ago

There are different kinds of penalty imposed upon an assessee under the Indian Income Tax Act for defaulters under the different provisions of the Act.... Read More

Why one should not invest in a second house? 2 min read

• Income Tax

Why one should not invest in a second house?

Manager 10 years ago

Tax is a major issue for purchasing a second house as an investment. A person is required to pay tax on the rental income arising... Read More

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent 2 min read

• Income Tax

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent

Manager 10 years ago

The Income Tax Act, 1961 provides special deductions in the income tax of a taxpayer who has a disabled or ailing dependent for whom the... Read More

No penalty under section 271(1) (c) can be levied if assessee discloses his income in notes to accounts 3 min read

• Income Tax

No penalty under section 271(1) (c) can be levied if assessee discloses his income in notes to accounts

Manager 10 years ago

The Delhi High Court in the case of Karan Raghav Exports vs. the Commissioner of Income Tax, ITA 1152 of 2011 dealt with the substantial... Read More

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income 2 min read

• Income Tax

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income

Manager 10 years ago

Traditionally since ages Income Tax Officers have been harassing tax payers and coercing them to admit to undisclosed income.   Not any more now, Well,... Read More

Getting income tax refunds from tax ombudsman 2 min read

• Income Tax

Getting income tax refunds from tax ombudsman

Manager 10 years ago

Most unfortunately in India many of the honest tax payers have pending income tax refunds. Either it is due to the delay on behalf of... Read More

How to speed up your pending income tax refund? 2 min read

• Income Tax

How to speed up your pending income tax refund?

Manager 10 years ago

Prolonged delay in getting income tax refund even after the due time is often faced by tax payers. Running for a long period before the... Read More

Lawful tax planning does not amount to an offence 3 min read

• Income Tax

Lawful tax planning does not amount to an offence

Manager 10 years ago

Tax evasion is an offence and should always be avoided. A tax planning till it is lawful does not only reduce the tax burden of a tax payer but also... Read More