Income Tax

Consequences of non-filing or late-filing of TDS return 2 min read

• Income Tax

Consequences of non-filing or late-filing of TDS return

Manager 9 years ago

The Central Board of Direct Taxes (CBDT) has ordered all the income tax offices to penalize employers who deduct TDS but do not deposit them.... Read More

Consequences of not filing returns by due date

• Income Tax

Consequences of not filing returns by due date

Manager 9 years ago

Filing Returns on certain Income made by NRIs 2 min read

• Income Tax

Filing Returns on certain Income made by NRIs

Aditijh 9 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

The grievances of the petitioner expressed in a letter is nothing but an appeal under Rule 86 of Second Schedule to the Income Tax Act 3 min read

• Income Tax

The grievances of the petitioner expressed in a letter is nothing but an appeal under Rule 86 of Second Schedule to the Income Tax Act

Manager 9 years ago

The Bombay High Court in the case of Vinod K. Bhagat vs. Tax Recovery Officer and Others, 2015 (3) TMI 105, held that the grievances... Read More

CBDT issues instruction to help the conduct of scrutiny assessments 3 min read

• Income Tax

CBDT issues instruction to help the conduct of scrutiny assessments

9 years ago

The CBDT has issued an Instruction being No. 20/2015 on 29.12.2015 wherein it has clarified many issues to help the conduct of scrutiny assessments in... 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?

9 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

Provision Of Reassessment Under Income Tax Act 1961- PART II 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART II

9 years ago

Continued from Provision Of Reassessment Under Income Tax Act 1961- PART I Case Situation 3 In case, the assessee has to file u/s 92 E reports against... Read More

Limitations of Audit under Section 44AB, Income Tax Act 2 min read

• Income Tax

Limitations of Audit under Section 44AB, Income Tax Act

9 years ago

Applicability of Section 44AB of the Income Tax Act: The44AB section provides that people having business or profession should get his accounts audited by a... Read More

Filing of revised return after issue of notice under section 143(2) is considered as voluntary disclosure in absence of specific particulars 5 min read

• Income Tax

Filing of revised return after issue of notice under section 143(2) is considered as voluntary disclosure in absence of specific particulars

Aditijh 9 years ago

The ITAT, Mumbai on 07.01.2015 passed a judgment stating that if an assessee files the revised return of income after the receipt of notice under... Read More

One can avail Deductions for both House Rent Allowance and Home Loan 2 min read

• Income Tax

One can avail Deductions for both House Rent Allowance and Home Loan

Aditijh 9 years ago

A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More