Income Tax

Getting income tax refunds from tax ombudsman 2 min read

• Income Tax

Getting income tax refunds from tax ombudsman

10 years ago

Most unfortunately in India many of the honest tax payers have pending income tax refunds. Either it is due to the delay on behalf of... Read More

Interest on NPAs and Stick Loans is not taxable according to prudential norms

• Income Tax

Interest on NPAs and Stick Loans is not taxable according to prudential norms

10 years ago

NO TDS ON PROVISION IS REQUIRED TO BE DEDUCTED IF PAYEE IS NOT IDENTIFIED 3 min read

• Income Tax

NO TDS ON PROVISION IS REQUIRED TO BE DEDUCTED IF PAYEE IS NOT IDENTIFIED

10 years ago

Citation of Case Law: M/s Dishnet Wireless Limited vs. DCIT (ITAT Chennai) I.T.A. Nos.320 to 329/Mds/2014, pronounced on 20.07.2015. Brief of Case: Assessee is Telecom... Read More

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

10 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

TDS Credit cannot be denied on the ground of Form 26AS mismatch

• Income Tax

TDS Credit cannot be denied on the ground of Form 26AS mismatch

10 years ago

File your Wealth Tax Return online 3 min read

• Income Tax

File your Wealth Tax Return online

10 years ago

The Wealth Tax Act is an important legislation related to tax, which came into force on and from 1.4.1957. Wealth tax is levied on the... Read More

Set off of losses under the income tax laws 5 min read

• Income Tax

Set off of losses under the income tax laws

10 years ago

Though business aims to make income, there is always a possibility of incurring loss. On the basis of the principles of natural justice, a set-off... Read More

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs 10 min read

• Income Tax

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs

10 years ago

New forms, additional information, completely paperless filing…. the Finance Ministry has introduced several changes in the way taxpayers will file their returns this year. As... Read More

Black Money: Award up to Rs.15 lakh for information against tax evaders 2 min read

• Income Tax

Black Money: Award up to Rs.15 lakh for information against tax evaders

10 years ago

THE BLACK MONEY MENACE IN INDIA Black money is a known as money earned from the market by various means for which none of the... Read More

Online Rectification of errors in Income Tax Return 2 min read

• Income Tax

Online Rectification of errors in Income Tax Return

10 years ago

Section 154 of the Income Tax Act, 1961 gives power to an Assessing Officer to rectify an order due to any error apparent on record... Read More