Income Tax

When NRIs need to pay income tax in India? 2 min read

• Income Tax

When NRIs need to pay income tax in India?

Manager 9 years ago

The Income Tax Act has not defined NRI directly. We need to know when NRIs need to pay income tax in India. Section 6 of... Read More

Tax evasion can land you in deep trouble 5 min read

• Income Tax

Tax evasion can land you in deep trouble

Manager 9 years ago

Individuals have the liberty to self assess their income and pay taxes accordingly. However that does not mean that if someone conceals a particular source... Read More

Choosing the best car loan option 2 min read

• Income Tax

Choosing the best car loan option

Manager 9 years ago

Car is not only a status symbol, but it is also a necessity, especially in metro cities, where you have to regularly travel to far... Read More

know your pan by name 1 min read

• Income Tax

know your pan by name

sunil12 9 years ago

Know Your Pan status by name, pan no or number. View your nsdl pan verification online details, uti Pan card search by date of birth,... Read More

A rectification application is maintainable based upon a subsequent decision of the Apex Court 3 min read

• Income Tax

A rectification application is maintainable based upon a subsequent decision of the Apex Court

Manager 9 years ago

The Allahabad High Court declares that a rectification application under the provisions of the Income Tax Act based on a subsequent decision of the Apex... Read More

Books of account cannot be rejected if TDS has been deducted 4 min read

• Income Tax

Books of account cannot be rejected if TDS has been deducted

Manager 9 years ago

The ITAT Pune in the case of VV Constructions v ACIT (ITAT Pune), ITA No. 1641/PN/2013 on 12.06.2015 held that books of account cannot be... Read More

Deductions under Section 80DDB of the Income Tax Act 3 min read

• Income Tax

Deductions under Section 80DDB of the Income Tax Act

Manager 9 years ago

Deductions under Section 80DDB of the Income Tax Act are available to an individual or a HUF since 1.4.2004. This kind of deduction is covered... Read More

Section 36(1)(iii) – Averting Interest Expenditure 2 min read

• Income Tax

Section 36(1)(iii) – Averting Interest Expenditure

Manager 9 years ago

The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Section 36(1)(iii) – Averting Interest Expenditure. Income... Read More

TDS not deductible merely on book entry 2 min read

• Income Tax

TDS not deductible merely on book entry

Manager 9 years ago

The Income Tax appellate Tribunal in ITA NO.2603/Mum/2011 (Income Tax Officer vs. M/s Pipavav Shipyard Ltd.) dismissed the appeal of the revenue. TDS not deductible... Read More

Partial Disbursement of Home Loan and Tax Benefits 3 min read

• Income Tax

Partial Disbursement of Home Loan and Tax Benefits

Manager 9 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