Income Tax

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?

11 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

Charitable organizations entitled to deduction of 15% of the gross receipts without fulfilling any condition 4 min read

• Income Tax

Charitable organizations entitled to deduction of 15% of the gross receipts without fulfilling any condition

11 years ago

It has recently been held by the ITAT Chandigarh in the cases of the Income Tax Officer vs. Bhartiya Vidya Mandir Trust, Ward VI (1),... 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

Parin K. Rajwani vs. JCIT (ITAT Mumbai) 2 min read

• Income Tax

Parin K. Rajwani vs. JCIT (ITAT Mumbai)

Aditijh 11 years ago

The real assessment order was passed on the November 30, 2010 on which date the Assessing officer proposed to begin penalty proceedings under section 271... Read More

F&O transactions are non-speculative business transactions 2 min read

• Income Tax

F&O transactions are non-speculative business transactions

Manager 11 years ago

Taxpayers in India whether their source of income is business or job, prefer to involve themselves in share trading as it is an easy way... 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

Manager 11 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

All about GST 3 min read

• Income Tax

All about GST

Manager 11 years ago

There are a huge number of different indirect taxes in India. The government is making plans to reform the present Indian indirect tax regime and... Read More

Loan on Securities for Instant Liquidity 2 min read

• Income Tax

Loan on Securities for Instant Liquidity

Manager 11 years ago

Securities are important assets which you either invest in as asset for future emergency use or for saving income tax. In case of urgency you... Read More

How to protect against clubbing of minor’s income? 2 min read

• Income Tax

How to protect against clubbing of minor’s income?

Manager 11 years ago

As a general rule an assessee is taxed for his own income. But under certain exceptional circumstances this rule is not applicable.  An assessee is... Read More

Will “E-Scrutiny” help to deal with tax disputes? 2 min read

• Income Tax

Will “E-Scrutiny” help to deal with tax disputes?

Manager 11 years ago

Tax litigation in India require a positive approach involving people with sound understanding of law to provide practical solutions to tax payers to help them... Read More