Income Tax

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

• Income Tax

Deemed Dividend under section 2(22) explained

Aditijh 9 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

Difference between tax evasion and tax avoidance 2 min read

• Income Tax

Difference between tax evasion and tax avoidance

Aditijh 9 years ago

There are two terms while dealing with online filing of Income tax returns which are often misunderstood or even misused “tax avoidance” and “tax evasion”.... Read More

Cash deposit in bank account is treated as turnover 2 min read

• Income Tax

Cash deposit in bank account is treated as turnover

Aditijh 9 years ago

The Gujarat high Court in the case of Commissioner of Income Tax – I vs. Sarwankumar Sharma, Tax Appeal No. 252 of 2014, has held... Read More

Expecting arrest for non-filing of tax return? 3 min read

• Income Tax

Expecting arrest for non-filing of tax return?

9 years ago

If you have failed to file your income tax return by the end of the assessment year without any genuine ground for failing to do... Read More

Service Tax: A List of Taxable Services As Per CBEC 5 min read

• Income Tax

Service Tax: A List of Taxable Services As Per CBEC

9 years ago

Definition Of Service As Per Service Tax Act Service is described in service tax act as the action that is taken for consideration and is... Read More

Receiving a gift of more than Rupees 50,000 could be a tax trap 2 min read

• Income Tax

Receiving a gift of more than Rupees 50,000 could be a tax trap

9 years ago

Receiving a gift more than rupees 50,000/- is taxable under the current tax regulations. The Indian gift tax Act was constituted on April 01, 1958... Read More

Deputation of employees to subsidiaries not chargeable to service tax 3 min read

• Income Tax

Deputation of employees to subsidiaries not chargeable to service tax

9 years ago

The Hon’ble Gujarat High Court in the case of Commissioner of Service Tax vs. Arvind Mills Ltd., 2014 (4) TMI 132, has held that a... Read More

ITAT Delhi explains the scope of proviso to section 2(15) relating to deduction for charitable institutions 5 min read

• Income Tax

ITAT Delhi explains the scope of proviso to section 2(15) relating to deduction for charitable institutions

9 years ago

The ITAT Delhi in the case of Association of State Road Transport vs. CIT – V, Astru Bhawan, Plot No. 4A, PSP Block, Pocket-14, Sector-8,... Read More

Consequences of Evading Income Tax 3 min read

• Income Tax

Consequences of Evading Income Tax

9 years ago

People have the liberty to self assess their income and then pay taxes. But it does not mean that you can evade taxes and expect... 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

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