Income Tax

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income 2 min read

• Income Tax

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income

10 years ago

Traditionally since ages Income Tax Officers have been harassing tax payers and coercing them to admit to undisclosed income.   Not any more now, Well,... Read More

What is Not Service as Per Service Tax: Negative List 4 min read

• Income Tax

What is Not Service as Per Service Tax: Negative List

10 years ago

Negative List Of Services As Introduced In Year 2012’s Budget : A new concept of negative list for service tax was announced in the year... Read More

The total capital gains should be included without computing the benefits of indexation while computing the “book profits” 5 min read

• Income Tax

The total capital gains should be included without computing the benefits of indexation while computing the “book profits”

10 years ago

The ITAT, Mumbai Bench in the case of Dharmayug Investments Ltd., The Times of India Bldg., Dr D N Road, Fort Mumbai 400 001 (PAN... Read More

Non-reporting of actual income for taxation as an error 2 min read

• Income Tax

Non-reporting of actual income for taxation as an error

10 years ago

Though we require filing income tax returns (ITR) every year, we are still prone to errors. There are some errors which are often made by... Read More

Reopening cannot be allowed on the ground of inadvertent mistake 4 min read

• Income Tax

Reopening cannot be allowed on the ground of inadvertent mistake

Manager 10 years ago

It has been held recently by the Bombay High Court in the case of Commissioner of Income Tax -11 vs. M/s. Jet Speed Audio Pvt.... Read More

Assigning serial numbers to applications filed u/s 154 of the Act and disposal thereof as per directions of the Hon’ble Delhi High Court and as per Instructions of CBDT 1 min read

• Income Tax

Assigning serial numbers to applications filed u/s 154 of the Act and disposal thereof as per directions of the Hon’ble Delhi High Court and as per Instructions of CBDT

Manager 10 years ago

Mr V P GUPTA, ADVOCATE WHO REPRESENTED THE HISTORICAL REFUND CASE IN DELHI HIGH COURT HAS PREPARED THE DRAFT LETTER AND REQUEST ALL ASSOCIATIONS and... Read More

Non-filing of income tax return may lead to prosecution as held by the Apex Court 2 min read

• Income Tax

Non-filing of income tax return may lead to prosecution as held by the Apex Court

Manager 10 years ago

The Apex Court in one of its recent judgment held that non-filing of income tax return may lead to prosecution under the Income Tax Act.... 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

Manager 10 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

Some common errors which we do while filing returns 2 min read

• Income Tax

Some common errors which we do while filing returns

Manager 10 years ago

Though we should file income tax returns every year, we still make some errors. There are some common errors which we make in most cases.... Read More

Comparison Between LIC Bima Account Plans I And II 2 min read

• Income Tax

Comparison Between LIC Bima Account Plans I And II

Manager 10 years ago

Two new non-linked policies have been launched by Life Insurance Corporation of India- Bima Account I and Bima Account II. These plans are quite simple... Read More