Income Tax

Check EPF Balance Online 2 min read

• Income Tax

Check EPF Balance Online

11 years ago

In this hi-tech era, digitization has covered everything in financial market. How can EPFO stay behind? Now EPF investors can get all details of their... Read More

Law Relating to Tax on Gifts from Relatives 2 min read

• Income Tax

Law Relating to Tax on Gifts from Relatives

11 years ago

Many of us believe that gifts from relatives are exempted from tax. But many of us are ignorant of the fact that gifts received from... Read More

Penalty imposed for false claim of deduction under section 80IB 2 min read

• Income Tax

Penalty imposed for false claim of deduction under section 80IB

11 years ago

Where the assessee has made false claim for deduction under Section 801B of the Income Tax Act, penalty is levied under Section 271(1) (c) of... Read More

No disallowance for amounts already paid without TDS 4 min read

• Income Tax

No disallowance for amounts already paid without TDS

11 years ago

The ITAT Mumbai in the case of Jitendra Mansukhlal Shah, 191, Pilla Building, Nagdevi Street, Mumbai 400003 vs. Dy. Commissioner of Income Tax, Central Circle... Read More

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed 6 min read

• Income Tax

Penalty under section 271(1) (c) cannot be levied for a claim which was fully disclosed but was subsequently disallowed

11 years ago

The Bombay High Court in the case of CIT Vs. S. M. Construction, Income Tax Appeal No. 412 of 2013, by a judgment dated 03.03.2015... Read More

Process of availing immunity of TDS default u/s 201 of the IT Act 3 min read

• Income Tax

Process of availing immunity of TDS default u/s 201 of the IT Act

11 years ago

There is an increase of Defaulting in TDS submissions. And so there is an increase in applications for immunity from accountants. In the cases in... Read More

A summary on Section 234E of the Income Tax Act 2 min read

• Income Tax

A summary on Section 234E of the Income Tax Act

11 years ago

The constitutional validity of Section 234E has been challenged by the different High courts in the cases appearing before them. Fee for default in furnishing... Read More

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

11 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

When can reopening of assessment be allowed? 4 min read

• Income Tax

When can reopening of assessment be allowed?

11 years ago

Section 147 of the Income Tax Act, 1961 allows reopening of assessment of income, in case the Assessing Officer believes that any income which is... Read More

Definition Of Service As Per Service Tax Act 2 min read

• Income Tax

Definition Of Service As Per Service Tax Act

11 years ago

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