Income Tax

Mistakes while depositing demonetized notes that will lead to scrutiny of Income Tax Return 4 min read

• Income Tax

Mistakes while depositing demonetized notes that will lead to scrutiny of Income Tax Return

Akanksha 9 years ago

The announcement made by PM Narendra Modi to demonetise Rs 500 and Rs 1,000 notes has led to panic in India. Everyone is rushing towards... Read More

Rectification of Income Tax Return U/s 154 of Income Tax Act 2 min read

• Income Tax

Rectification of Income Tax Return U/s 154 of Income Tax Act

Sourav 9 years ago

Application for Request for rectification of Income Tax return u/s 154can be filed u/s 154 of the IT Act, by the assessee in case of... Read More

Why you need to Hire a Tax Professional to file your Income Tax returns 4 min read

• Income Tax

Why you need to Hire a Tax Professional to file your Income Tax returns

Sourav 9 years ago

If maintaining the books and following the numbers simply isn’t your forte, please appoint some professional to help you file your income tax returns. There... Read More

What could be next step by Modi Government- would it be able to Curb Benami Property Transactions 3 min read

• Income Tax

What could be next step by Modi Government- would it be able to Curb Benami Property Transactions

Rebecca Ghomes 9 years ago

It is a matter of common knowledge that black money hoarders try to convert their ill-gotten funds into gold and real estate by way of... Read More

Deductions under Section 80G & 80GG 2 min read

• Income Tax

Deductions under Section 80G & 80GG

Sourav 9 years ago

Deductions under Section 80G To encourage the concept of donations or charity towards the needy and the poor section of the society, the government of... Read More

The New Income Declaration Scheme – Another Chance to disclose unaccounted money 2 min read

• Income Tax

The New Income Declaration Scheme – Another Chance to disclose unaccounted money

Sourav 9 years ago

The government has introduced the new income declaration scheme in the Lok Sabha, to give the black money hoarders a further opportunity to disclose their... Read More

Revision of Tax Audit Report- Circumstances in which it can be revised and How to revise it 2 min read

• Income Tax

Revision of Tax Audit Report- Circumstances in which it can be revised and How to revise it

Sourav 9 years ago

The cases in which revision of tax audit report is done are often rare in real practice.    One should give due care and caution for... Read More

Application for compounding valid even if the assessee has been convicted of an offense 5 min read

• Income Tax

Application for compounding valid even if the assessee has been convicted of an offense

Baisakhi Ganguly 9 years ago

The Hon’ble High Court at Madras in the case of M/s. V.A.Haseeb and Co. (Firm) represented by one of its Partner, Shri. Mohammed Anwarullah (Petitioner)... Read More

Tax Planning- the legal Alternative to Tax Avoidance or Tax Evasion 3 min read

• Income Tax

Tax Planning- the legal Alternative to Tax Avoidance or Tax Evasion

Skumar 9 years ago

The growing instances of accumulating huge unaccounted money or black money has made it necessary to specify the differences between tax Avoidance and Tax evasion,... Read More

An Overview of Defective Return under Income Tax Act and its implications 3 min read

• Income Tax

An Overview of Defective Return under Income Tax Act and its implications

Sourav 9 years ago

A return shall be considered as a defective return unless it is accompanied by the following documents: A return in the prescribed form with all... Read More