Section 194-IA states that any person, being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of... Read More
Income Tax
- Your guide to understanding and filing income tax returns.
- Simplify your tax filing process with expert advice.
- Learn about the different types of income tax, including individual income tax, corporate income tax, and more. Understand the income tax slabs, deductions, and exemptions applicable to various income sources.
- Get expert advice on tax planning and saving strategies to minimize your tax liability. Learn how to file your income tax return accurately and on time, avoiding penalties and interest charges.
- Stay up-to-date with the latest income tax news, circulars, and notifications. Access useful tools like income tax calculators, TDS calculators, and form 16 download links.
A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More
Taxability of Agricultural Income
3 min read
Agricultural Income – defined: According to the provisions of the Income Tax Act, any income earned from any of the three following three sources are... Read More
All about Penalty under section 271(1) (c)
2 min read
Section 271(1) (c) of the Income Tax Act, 1961 deals with levy of penalty due to concealment of income by an assessee. Penalty under section... Read More
The ITAT Pune in the case of VV Constructions v ACIT (ITAT Pune), ITA No. 1641/PN/2013 on 12.06.2015 held that books of account cannot be... Read More
If the Assessing Officer is not satisfied regarding the authenticity or completeness of the books of accounts maintained by the assessee or where in his... Read More
A summary on taxability of gifts
2 min read
Are you worried about the cash gifts received from your near relations? One should know the tax implications of gifts before making or receiving them.... Read More
How to rectify a defective return?
2 min read
An Assessing Officer can call upon the assessee to rectify a defective return filed by him. This is provided in section 139(9) of the Income... Read More
Income Tax Scrutiny Aspects In India
3 min read
In general, income tax department cannot assess all the income tax returns filed in one financial year. Hence, normally random scrutiny for assessing the assessee... Read More
When salaried people file their final proofs relating to tax, if an employee fails to file any detail, the deduction claimed by him is not... Read More
ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar 
Tax Officials Unleash Digital Dragnet: How New Raid Powers Redefine Privacy, Property Rights in India and likely to Fuel Corruption 
Income Tax Department Rewards for Reporting Tax Evasion: A Comprehensive Guide 
Forfeiture of Gratuity by Employer- What are the Remedies for an employee- Can employer be challenged?