Income Tax

Assigning serial numbers to applications filed u/s 154 of the Act and disposal thereof as per directions of the Hon’ble Delhi High Court and as per Instructions of CBDT 1 min read

• Income Tax

Assigning serial numbers to applications filed u/s 154 of the Act and disposal thereof as per directions of the Hon’ble Delhi High Court and as per Instructions of CBDT

Manager 10 years ago

Mr V P GUPTA, ADVOCATE WHO REPRESENTED THE HISTORICAL REFUND CASE IN DELHI HIGH COURT HAS PREPARED THE DRAFT LETTER AND REQUEST ALL ASSOCIATIONS and... Read More

Non-filing of income tax return may lead to prosecution as held by the Apex Court 2 min read

• Income Tax

Non-filing of income tax return may lead to prosecution as held by the Apex Court

Manager 10 years ago

The Apex Court in one of its recent judgment held that non-filing of income tax return may lead to prosecution under the Income Tax Act.... Read More

Penalty under section 271(1) (c) of the Income Tax Act 3 min read

• Income Tax

Penalty under section 271(1) (c) of the Income Tax Act

Manager 10 years ago

There are many judgments of different courts which have adjudicated the issue of levy of penalty under section 271(1) (c) of the Income Tax Act.... Read More

Some common errors which we do while filing returns 2 min read

• Income Tax

Some common errors which we do while filing returns

Manager 10 years ago

Though we should file income tax returns every year, we still make some errors. There are some common errors which we make in most cases.... Read More

Comparison Between LIC Bima Account Plans I And II 2 min read

• Income Tax

Comparison Between LIC Bima Account Plans I And II

Manager 10 years ago

Two new non-linked policies have been launched by Life Insurance Corporation of India- Bima Account I and Bima Account II. These plans are quite simple... Read More

Process of availing immunity of TDS default u/s 201 of the IT Act 3 min read

• Income Tax

Process of availing immunity of TDS default u/s 201 of the IT Act

Manager 10 years ago

There is an increase of Defaulting in TDS submissions. And so there is an increase in applications for immunity from accountants. In the cases in... Read More

HRA allowance to be scanned by the Income Tax Department 2 min read

• Income Tax

HRA allowance to be scanned by the Income Tax Department

Manager 10 years ago

Here is some bad news for tax evaders. A circular issued by the Central Board of  Direct taxes   states that salaried taxpayers claiming exemption for HRA  allowance now... Read More

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income 4 min read

• Income Tax

Income from sale of agricultural land situated beyond the municipal limits cannot be taxed as business income

Manager 10 years ago

The profits arising out of sale of an agricultural land which is far away from the limits of municipality cannot be treated as a regular... Read More

Can a Tribunal stay a proceeding beyond a period of 365 days as prescribed in the Act? 5 min read

• Income Tax

Can a Tribunal stay a proceeding beyond a period of 365 days as prescribed in the Act?

Manager 10 years ago

The Hon’ble Delhi High Court in the case of Pepsi Foods Private Limited vs. ACIT, W.P. (C) 1334/2015, and W.P. (C) 4280/2014 by a judgment... Read More

How to make your salary tax efficient? 3 min read

• Income Tax

How to make your salary tax efficient?

Manager 10 years ago

Many People have the grudge that their salary is low compared to the tax paid by them which is high. It is very urgent and... Read More