Income Tax

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed 6 min read

• Income Tax

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed

Manager 10 years ago

The Bombay High Court in the case of CIT Vs. S. M. Construction, Income Tax Appeal No. 412 of 2013, by a judgment dated 03.03.2015... Read More

Application for Rectification of Mistake Apparent from Record 2 min read

• Income Tax

Application for Rectification of Mistake Apparent from Record

Manager 10 years ago

Circumstances when an application is made for rectification: After filling an Income Tax return, the Income Tax department processes the same. But the information provided... Read More

Computation of Wealth Tax

• Income Tax

Computation of Wealth Tax

Manager 10 years ago

Deduction under section 80IC allowed to hotels under the category “eco tourism” 2 min read

• Income Tax

Deduction under section 80IC allowed to hotels under the category “eco tourism”

Manager 10 years ago

The Income Tax Tribunal, Chandigarh, in The A.C.I.T., Vs. Sh. Raghunath Singh Thakur, ITA No.152 by a judgment dated 22.06.2012 held that deduction under section... Read More

Know more about new house rent allowance (HRA) rules

• Income Tax

Know more about new house rent allowance (HRA) rules

Manager 10 years ago

Assessing Officers directed to quickly comply with the appeal orders 3 min read

• Income Tax

Assessing Officers directed to quickly comply with the appeal orders

Baisakhi Ganguly 10 years ago

The Central Board of Direct Taxes has recently passed a direction on 07.10.2015 wherein it has been notified that the Assessing Officers of the Revenue... Read More

Article: Penalty u/s. 271(1)(c)- A boon or a curse? 2 min read

• Income Tax

Article: Penalty u/s. 271(1)(c)- A boon or a curse?

Anuj Mathur 10 years ago

India has gone digital from groceries to ITR filing online. However, income tax return registration has become easy; there is a cliché to it. The... Read More

Impacts of Non-issuance of TDS certificate within time 2 min read

• Income Tax

Impacts of Non-issuance of TDS certificate within time

Baisakhi Ganguly 10 years ago

There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More

CBDT Instruction regarding Compulsory Manual Selection of Cases for Scrutiny during FY 2015-2016 5 min read

• Income Tax

CBDT Instruction regarding Compulsory Manual Selection of Cases for Scrutiny during FY 2015-2016

Manager 10 years ago

The CBDT (Central Board of Direct Taxes) has issued the above Instruction on August 31, 2015 to lay the parameters for compulsory manual selection of... Read More

Is “mens rea” an essential factor for levy of penalty? 4 min read

• Income Tax

Is “mens rea” an essential factor for levy of penalty?

Baisakhi Ganguly 10 years ago

The debate as to whether “mens rea” is an essential ingredient for levy of penalty has been never ending. It is a common issue as... Read More