Income Tax

Distinguish between a NRO and NRE account 2 min read

• Income Tax

Distinguish between a NRO and NRE account

Manager 11 years ago

There are two options available to NRIs who wish to open a bank account in India. He can either open an NRO or NRE account.... Read More

A summary on best judgment assessment 2 min read

• Income Tax

A summary on best judgment assessment

Manager 11 years ago

Assessment refers to evaluation or judgment. As per the income tax law it refers to evaluation of income. It includes various procedures. Though in the... Read More

Finance Minister tables the budget for 2014

• Income Tax

Finance Minister tables the budget for 2014

Manager 11 years ago

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

Manager 11 years ago

Section 160 (1) (i) of the Income Tax Act deals with the term “Representative Assessee” for all purposes of assessment of income tax. It refers... Read More

Things to know before choosing your tax return preparer 2 min read

• Income Tax

Things to know before choosing your tax return preparer

Manager 11 years ago

Tax professionals have different skills and expertise in the subject. There are many kinds of tax return preparers with credentials. The Government of India has... Read More

Which LIC Policy Is Best For Me? 2 min read

• Income Tax

Which LIC Policy Is Best For Me?

Manager 11 years ago

Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More

Implications of mentioning wrong section in TDS challan 2 min read

• Income Tax

Implications of mentioning wrong section in TDS challan

11 years ago

The ITAT, Jaipur in the case of Income Tax Officer, TDS, Alwar vs. LIC of India , 2015 (10) TMI 2439 , has held that... Read More

Reopening cannot be allowed on the ground of inadvertent mistake 4 min read

• Income Tax

Reopening cannot be allowed on the ground of inadvertent mistake

Aditijh 11 years ago

It has been held recently by the Bombay High Court in the case of Commissioner of Income Tax -11 vs. M/s. Jet Speed Audio Pvt.... Read More

Effects of Not Filing Income Tax Return in Time 2 min read

• Income Tax

Effects of Not Filing Income Tax Return in Time

11 years ago

Though filing of Income Tax return is voluntary but the Government of India has made the filing of return for any income which is taxable... Read More

Law Relating to Gift Tax in India 2 min read

• Income Tax

Law Relating to Gift Tax in India

Aditijh 11 years ago

Law Relating to Gift Tax in India In the earlier times in India cash gifts of up to Rs 50,000 were tax free but if... Read More