Income Tax

Income Tax Department launches Toll-free line for complaints related to black money in elections 2 min read

• Income Tax

Income Tax Department launches Toll-free line for complaints related to black money in elections

Manager 9 years ago

In the run up to the upcoming Assembly polls in Delhi, the Income Tax Department has launched a Toll-free number – 1800 110 132 –... Read More

Factors to be considered before selling a house before three years 2 min read

• Income Tax

Factors to be considered before selling a house before three years

Manager 9 years ago

One can earn a lot from the profit earned by selling a house. But if somebody sells a house before three years, such a sale... Read More

The role of the Aaykar Lokpal in solving tax issues 3 min read

• Income Tax

The role of the Aaykar Lokpal in solving tax issues

Manager 9 years ago

The office of Income Tax Ombudsman (Aaykar Lokpal) has been created in the year 2006 to deal with complaints of the public against the Income... Read More

If additions in income are not made on the grounds for reassessment, no addition can be made elsewhere 2 min read

• Income Tax

If additions in income are not made on the grounds for reassessment, no addition can be made elsewhere

Manager 9 years ago

The Hon’ble Agra ITAT has held recently in the case of Kumar Goyal vs. ITO (ITAT Agra), I.T.A. No.116/Agra/2012 that if no additions are made... Read More

Penalty cannot be levied in case of huge loss 2 min read

• Income Tax

Penalty cannot be levied in case of huge loss

Manager 9 years ago

The Bombay High Court in the case of The Commissioner of Income Tax vs. M/s Garware Chemicals Ltd., Income Tax Appeal No. 916 of 2012... Read More

One Person Company – Incorporation, Set Up and Legal Aspects 2 min read

• Income Tax

One Person Company – Incorporation, Set Up and Legal Aspects

Manager 9 years ago

Most of the times, you may don’t want to interrupt your free lifestyle and at the same time setup a business. Well, one person company... Read More

One can claim deduction on only one residential property occupied by him 2 min read

• Income Tax

One can claim deduction on only one residential property occupied by him

Manager 9 years ago

If a person is the owner of more than one residential property, only one of the properties which he chooses will be treated as a... Read More

Finance Minister tables the budget for 2014 3 min read

• Income Tax

Finance Minister tables the budget for 2014

Manager 9 years ago

2014 Budget presented Finance Minister, P. Chidambaram tables the Budget for 2014, a most awaited one right before the elections. States should take measures to... Read More

Why people should avoid tax evasion? 3 min read

• Income Tax

Why people should avoid tax evasion?

Manager 9 years ago

A recent report released by the Indian Finance Ministry stated that the number of taxpayers in India for the financial year 2011-12 is around 3.24... Read More

Deduction for house rent allowance 3 min read

• Income Tax

Deduction for house rent allowance

Manager 9 years ago

An income tax exemption which most of the people avail is on House Rent Allowance (HRA). Such allowance is paid by the employer to an... Read More