Income Tax

Deemed Dividend under section 2(22) explained 3 min read

• Income Tax

Deemed Dividend under section 2(22) explained

Manager 11 years ago

Deemed dividend under section 2(22) from an Indian company or any dividend that is received from a foreign company is taxable in the hands of... Read More

Glimpses of the Black Money Bill 3 min read

• Income Tax

Glimpses of the Black Money Bill

Manager 11 years ago

The government has recently introduced the Undisclosed Foreign Income and Assets Bill, 2015, commonly known as the Black Money Bill. The income tax department has... Read More

CBDT extends the time for filling tax audit report 2 min read

• Income Tax

CBDT extends the time for filling tax audit report

Manager 11 years ago

The Central Board of Direct Taxes has extended the deadline for filing tax audit report as per section 44AB of the Income Tax Act,1961, from... Read More

Are You Eligible For Income Tax Rebate U/S 87A 2 min read

• Income Tax

Are You Eligible For Income Tax Rebate U/S 87A

11 years ago

In budget 2013-14, taxpayers’ focus was on Section 87A. This section is added in Income Tax act 1961 for the benefit of common man. Section... Read More

If the Assessee discharges the primary burden of proving creditworthiness of creditors, the onus shifts upon revenue to prove otherwise 5 min read

• Income Tax

If the Assessee discharges the primary burden of proving creditworthiness of creditors, the onus shifts upon revenue to prove otherwise

11 years ago

The ITAT, Lucknow Bench in the case of Vishnu Jaiswal vs. Commissioner of Income Tax (Appeals), IT Appeal No. 336 of 2011 for the (Assessment... Read More

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns 2 min read

• Income Tax

Section 36(1)(iii) – Averting Interest Expenditure on Loans to Sister Concerns

Aditijh 11 years ago

The present petition desired by the assessee Hero cycle (p) Ltd is relevant to the Assessment Year 1988-1989. Income tax return filed by the assessee... Read More

Summons issued to persons for personal attendance under section 131 of the Income Tax Act 2 min read

• Income Tax

Summons issued to persons for personal attendance under section 131 of the Income Tax Act

11 years ago

Section 131 of the Income Tax Act provides power to the income tax authorities to summon witnesses,  to force production of books of account and other documents as well as... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

How to file the income tax return of a deceased assessee?

11 years ago

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and... Read More

All about reopening of assessment 3 min read

• Income Tax

All about reopening of assessment

11 years ago

Reassessment is one of the vital weapons in the hands of the Income Tax Department which empowers the Assessing Officer to reassess the income, turnover... Read More

The distance of an “agricultural land” should be calculated from the approach road 5 min read

• Income Tax

The distance of an “agricultural land” should be calculated from the approach road

11 years ago

The Hon’ble High Court at Delhi on 14.09.2015 in the case of Commissioner of Income Tax (Appellant) vs. Sri Vijay Singh Kadan (Respondent) being ITA... Read More