Income Tax

Procedure of calculating Wealth Tax 2 min read

• Income Tax

Procedure of calculating Wealth Tax

Manager 11 years ago

Procedure of calculating Wealth Tax Wealth tax is not payable on income but payable only because a person is wealthy. Wealth tax is levied when... Read More

How to rectify an income Tax Return filed by an assessee? 2 min read

• Income Tax

How to rectify an income Tax Return filed by an assessee?

Manager 11 years ago

After filling an Income Tax Return, the department verifies the same by going through the information given by the assessee in his return of income.... Read More

Privacy Policy

• Income Tax

Privacy Policy

Manager 11 years ago

Download Acts 1 min read

• Income Tax

Download Acts

Manager 11 years ago

Download Income Tax Act Download Wealth Tax Act            ... Read More

Can seized cash be adjusted against advance tax? 2 min read

• Income Tax

Can seized cash be adjusted against advance tax?

Manager 11 years ago

The Finance Bill, 2013 has inserted an Explanation to section 132B of Income Tax Act, 1961, which states that the “existing liability” does not include... Read More

Income Tax Department targets tax evaders 2 min read

• Income Tax

Income Tax Department targets tax evaders

Manager 11 years ago

The Income Tax department has undertaken an intelligence project to spot those PAN holders who have not filed income tax returns and regarding whom information... Read More

Does disallowance of a claim for expenses amount to furnishing incorrect details of income? 3 min read

• Income Tax

Does disallowance of a claim for expenses amount to furnishing incorrect details of income?

Manager 11 years ago

The Income Tax Act aims to protect the interest of the Revenue against furnishing incorrect details of income in the return of the assessee. Many... Read More

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

Manager 11 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

Supreme Court declares involuntary surrender of income does not save one from penalty proceedings 3 min read

• Income Tax

Supreme Court declares involuntary surrender of income does not save one from penalty proceedings

Manager 11 years ago

The Apex Court in a recent judgment declared that voluntary disclosure cannot help an assessee to escape from penalty proceedings. Supreme Court declares involuntary surrender... Read More

Deductor now entitled to interest on excess TDS in case of refund 3 min read

• Income Tax

Deductor now entitled to interest on excess TDS in case of refund

Manager 11 years ago

The Apex court in the case of Union Of India vs. Tata Chemicals Ltd. recently held that excess TDS is to be refunded by the... Read More