Income Tax

Taxes paid by Employee Not reimbursed by Employer are not Taxable Income 4 min read

• Income Tax

Taxes paid by Employee Not reimbursed by Employer are not Taxable Income

10 years ago

The Delhi High Court in the case of CIT vs. Dr. Percy Batlivala [ITA No. 13 08 of 2008] has held that for the employees... Read More

Taxability of income from shares 3 min read

• Income Tax

Taxability of income from shares

10 years ago

Many people have an idea that the income received from shares is exempt from income tax. But in reality it is not so. One should... Read More

Comparison between Jeevan Tarang and Jeevan Anand 2 min read

• Income Tax

Comparison between Jeevan Tarang and Jeevan Anand

10 years ago

At present LIC is successfully running two polices Jeevan Tarang and Jeevan Anand which are both a combination of whole life and endowment features. Herein... Read More

Effects of the new Companies Act upon audit and auditors 5 min read

• Income Tax

Effects of the new Companies Act upon audit and auditors

10 years ago

The old Companies Act enacted in 1956 was introduced to consolidate the law governing the corporate sectors. This Act was in force for the last... Read More

Money Back Plan vs. Term Insurance Plan 3 min read

• Income Tax

Money Back Plan vs. Term Insurance Plan

10 years ago

In India, most of the insurance companies insist money back insurance plan. People are quite sure about their decision regarding insurance. They find money back... Read More

Facing an Income Tax Raid? Execute your Rights!

• Income Tax

Facing an Income Tax Raid? Execute your Rights!

10 years ago

Filing Returns on certain Income made by NRIs 2 min read

• Income Tax

Filing Returns on certain Income made by NRIs

10 years ago

As per Income Tax Act 1961, there are a few categories of earnings made by Non Resident Indians on which they have to file returns.... Read More

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it 2 min read

• Income Tax

Medical reimbursement paid to employees is not part of salary and no TDS can be charged upon it

10 years ago

The Income Tax Appellate Tribunal in the Assistant Commissioner of Income Tax (TDS) vs. M/s. SAP Labs India Pvt. Ltd. being ITA Nos.1414 to 1416/Bang/2012... Read More

No penalty under section 271(1) (c) in case of concealment of income due to “bonafide mistake” by an assessee 2 min read

• Income Tax

No penalty under section 271(1) (c) in case of concealment of income due to “bonafide mistake” by an assessee

10 years ago

The Assessing Office cannot levy a penalty under section 271(1) (c) due to a bonafide mistake on the part of an assessee. This was subsequently... Read More

Is there a Waiver in Arrears of Penalty for Deceased Individuals? 2 min read

• Income Tax

Is there a Waiver in Arrears of Penalty for Deceased Individuals?

10 years ago

The proposition There are various corporate laws, which are applicable on any working individual. However, certain issues have been missing in those laws. Recently, a... Read More