Income Tax

The grievances of the petitioner expressed in a letter is nothing but an appeal under Rule 86 of Second Schedule to the Income Tax Act 3 min read

• Income Tax

The grievances of the petitioner expressed in a letter is nothing but an appeal under Rule 86 of Second Schedule to the Income Tax Act

10 years ago

The Bombay High Court in the case of Vinod K. Bhagat vs. Tax Recovery Officer and Others, 2015 (3) TMI 105, held that the grievances... Read More

How a Self-Occupied House is Taxed 3 min read

• Income Tax

How a Self-Occupied House is Taxed

10 years ago

Any financial benefits derived from one’s own house property are considered as an income and is thus taxable under the Income Tax Act. “Income from... Read More

Rules for NRIs selling property in India 2 min read

• Income Tax

Rules for NRIs selling property in India

10 years ago

A new trend in the NRI property rules has been observed recently. NRIs (non resident Indians) coming to India to sell their purchased or inherited... Read More

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act 14 min read

• Income Tax

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act

Aditijh 10 years ago

Income Tax – Section 54F. – Whether in the absence of completion and possession by way of registration and transfer of its title of flats... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

10 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More

Is the CBDT instruction fixing monetary limit for appeals retrospective in nature? 3 min read

• Income Tax

Is the CBDT instruction fixing monetary limit for appeals retrospective in nature?

10 years ago

It has been recently held in the case of Commissioner of Income Tax-II, Agra and another (Appellants) vs. Shyam Biri Works, Allahabad (Respondent), being Income... Read More

Section 54F does not require completion of the residential house within three years 4 min read

• Income Tax

Section 54F does not require completion of the residential house within three years

10 years ago

The Hon’ble High Court at Karnataka on 13.7.15 has held that the provisions of section 54F are beneficial in nature and should be interpreted liberally.... Read More

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A 4 min read

• Income Tax

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A

Aditijh 10 years ago

The ITAT Mumbai in the case of Sumanlata Bansal( PAN- AAHPB0141N) vs. the Assistant Commissioner of Income Tax, Central Circle 8 Mumbai, ITA nos. 525... Read More

All about Representative Assessee 3 min read

• Income Tax

All about Representative Assessee

10 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

Set off of unabsorbed depreciation 1 min read

• Income Tax

Set off of unabsorbed depreciation

Manager 10 years ago

Set off of unabsorbed depreciation    ... Read More