Income Tax

Know more about new house rent allowance (HRA) rules 2 min read

• Income Tax

Know more about new house rent allowance (HRA) rules

Akanksha 11 years ago

In a recent change in the rent allowance rules for people who pay an annual rent exceeding the limit of Rs.100,000 per annum, would need... Read More

All about Income Tax Raid 4 min read

• Income Tax

All about Income Tax Raid

11 years ago 2

One should not keep any unaccounted or undeclared money, jewellery or any kind of wealth, commonly known as black money. All such income should always be... Read More

Penalty under section 271(1) (c) of the Income Tax Act 3 min read

• Income Tax

Penalty under section 271(1) (c) of the Income Tax Act

11 years ago

There are many judgments of different courts which have adjudicated the issue of levy of penalty under section 271(1) (c) of the Income Tax Act.... Read More

Statutory reserve created under section 45IC of Reserve Bank of India Act should be included in the book profits 2 min read

• Income Tax

Statutory reserve created under section 45IC of Reserve Bank of India Act should be included in the book profits

11 years ago

It was held by the Delhi High Court in the case of Srei Infrastructure Finance Ltd. vs. ACIT that according to Explanation (1) (c) to... Read More

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules. 2 min read

• Income Tax

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules.

11 years ago

The Income Tax department in a circular dated 9.4.13 has declared that it has become mandatory for all deductors to issue the TDS certificates for... 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

11 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

Filing of Income Tax Return without paying Self Assessment Tax makes it defective 2 min read

• Income Tax

Filing of Income Tax Return without paying Self Assessment Tax makes it defective

11 years ago

Present provisions of section 139(9) of the Income Tax Act: The present provisions of section 139(9) of the Income Tax Act contain the conditions the... Read More

The New Channel of Collecting Information Return for AIR 3 min read

• Income Tax

The New Channel of Collecting Information Return for AIR

Aditijh 11 years ago

The new channel of collecting information in the form of Annual Information Return provided in Section 285BA of the I.T. Act 1961 has come across... Read More

No addition to income can be allowed for unexplained investment based on an unsigned agreement for sale of property 5 min read

• Income Tax

No addition to income can be allowed for unexplained investment based on an unsigned agreement for sale of property

11 years ago

It has recently been held by the ITAT, Hyderabad in the case of R.Nalini Devi vs. Department of Income Tax, (ITA Nos. 930 and 931... Read More

Glimpses of taxation amendments in budget 2015 6 min read

• Income Tax

Glimpses of taxation amendments in budget 2015

11 years ago

Regarding income of all kinds of assessees liable to pay income tax for the assessment year 2015-2016, the rates of income tax have been stated... Read More