Income Tax

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

• Income Tax

F&O transactions are non-speculative business transactions

Manager 10 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

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it 2 min read

• Income Tax

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it

Manager 10 years ago

The Income Tax Appellate Tribunal in the Assistant Commissioner of Income Tax (TDS) vs. M/s. SAP Labs India Pvt. Ltd. being ITA Nos.1414 to 1416/Bang/2012... Read More

All about GST 3 min read

• Income Tax

All about GST

Manager 10 years ago

There are a huge number of different indirect taxes in India. The government is making plans to reform the present Indian indirect tax regime and... Read More

Loan on Securities for Instant Liquidity 2 min read

• Income Tax

Loan on Securities for Instant Liquidity

Manager 10 years ago

Securities are important assets which you either invest in as asset for future emergency use or for saving income tax. In case of urgency you... Read More

How to protect against clubbing of minor’s income? 2 min read

• Income Tax

How to protect against clubbing of minor’s income?

Manager 10 years ago

As a general rule an assessee is taxed for his own income. But under certain exceptional circumstances this rule is not applicable.  An assessee is... Read More

An overview on personal loan 2 min read

• Income Tax

An overview on personal loan

Manager 10 years ago

There are many who need extra amount once in a while to tide over the period of financial crisis. The amount is not necessarily for... Read More

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income 4 min read

• Income Tax

The Finance Bill, 2015 provides new explanation for determination of penalty as per section 271 in case of concealment of income or furnishing of incorrect details of income

Manager 10 years ago

The present explanation 4, which is proposed to be substituted by the Finance Bill,2015, states that for the purposes of clause (iii) of section 271(1),... Read More

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied 2 min read

• Income Tax

Set off of speculation losses which had been accepted by the Assessing Officer earlier cannot be denied

Manager 10 years ago

The ITAT Delhi in the case of Income Tax Officer vs. Vartman Securities & Services Pvt. Ltd., 2014 (12) TMI 552, has held that where... Read More

Investigation under the provisions of the Income Tax Act 3 min read

• Income Tax

Investigation under the provisions of the Income Tax Act

Manager 10 years ago

According to the Oxford English Dictionary, the term “investigation” refers to “the official examination of the facts regarding a situation or a crime.” For the... Read More

Is Tax Evasion an Illegal Act in India? 2 min read

• Income Tax

Is Tax Evasion an Illegal Act in India?

Manager 10 years ago

Tax planning is an important aspect for conducting any business as well as for salaried persons. But at times it gives rise to “tax avoidance”... Read More