Income Tax

Indexed Cost of gifts has to be determined with reference to previous owner 4 min read

• Income Tax

Indexed Cost of gifts has to be determined with reference to previous owner

10 years ago

If you receive capital assets either by way of gift or by way of inheritance through a will from your dear ones, the liability towards... Read More

Partial Disbursement of Home Loan and Tax Benefits 3 min read

• Income Tax

Partial Disbursement of Home Loan and Tax Benefits

10 years ago

To understand the tax treatment of getting exemptions under home loan that have been partially received or disbursed by the bank, it is necessary to... Read More

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain 6 min read

• Income Tax

The Income Tax Appellate Tribunal declares slump sale surplus as a capital gain

10 years ago

One of the most fashionable trends of business in the present world of business is a transfer through slump sale. This kind of deals falls... Read More

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

10 years ago

In this hi-tech era, digitization has covered everything in financial market too. How can EPFO stay behind? Now, EPF investors can get all details of... 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

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

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

Fresh guidelines on delayed filing of Income Tax Return 2 min read

• Income Tax

Fresh guidelines on delayed filing of Income Tax Return

10 years ago

As per Section 119 of the Income Tax, 1961, a fresh set of guidelines were issued for condoning delayed filing of income tax returns on... Read More

Penalty u/s 271 (l) (c) is a civil liability – HC – Income Tax 2 min read

• Income Tax

Penalty u/s 271 (l) (c) is a civil liability – HC – Income Tax

Aditijh 10 years ago

In the process of any proceedings or hearing under the Act, if the AO (assessing officer) or Commissioner is found that any tax payer has... Read More

Non-reporting of actual income for taxation as an error 2 min read

• Income Tax

Non-reporting of actual income for taxation as an error

10 years ago

Though we require filing income tax returns (ITR) every year, we are still prone to errors. There are some errors which are often made by... 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

Manager 10 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