Income Tax

Deductions under section 80 IA and 80 IB of the Income Tax Act, 1961 4 min read

• Income Tax

Deductions under section 80 IA and 80 IB of the Income Tax Act, 1961

10 years ago

Chapter VIA of the Income Tax Act, 1961 deals with deductions allowed to assessees under section 80 of the Act. The assessee can reduce its... Read More

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971 2 min read

• Income Tax

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971

Aditijh 10 years ago

Every year, Income tax return registration and filing of ITR return online or offline is a practice followed both by companies and individuals. An important... Read More

New rules for e-filing of wealth tax returns 2 min read

• Income Tax

New rules for e-filing of wealth tax returns

Aditijh 10 years ago

The Income Tax Department had been amended the Wealth Tax Rules. The Central Board of Direct Taxes has recently framed new rules to amend the... Read More

Liabilities of an auditor under the Companies Act 4 min read

• Income Tax

Liabilities of an auditor under the Companies Act

10 years ago

The Companies Act, 1956 provides that the balance sheet and profit and loss account of a company should truly state all the affairs of the... Read More

Online Correction of E -TDS return made possible on Traces Website 2 min read

• Income Tax

Online Correction of E -TDS return made possible on Traces Website

10 years ago

As part of a fresh initiative and new development, website of TDSCPC (TRACES) have now made possibility of online correction of e-TDS returns on their... Read More

Effect Of Depreciating Value Of Rupee On Indian Economy 2 min read

• Income Tax

Effect Of Depreciating Value Of Rupee On Indian Economy

10 years ago

Every country in the world has its own currency except Europe Nations. The whole continent of Europe has only one global exchange currency i.e. Euro.... Read More

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A? 3 min read

• Income Tax

What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A?

10 years ago

The Finance Bill 2013 has incorporated a new section 194-IA in the Income Tax Act. According to the provision TDS at the rate of 1%... Read More

No addition of income based on a statement recorded during a survey 4 min read

• Income Tax

No addition of income based on a statement recorded during a survey

10 years ago

The ITAT Kolkata on 06.05.2015 has held that no addition of income can be allowed based on a statement recorded under the provisions of section... Read More

Income Tax Rules For Clubbing Income In IT Returns 3 min read

• Income Tax

Income Tax Rules For Clubbing Income In IT Returns

10 years ago

Income tax law has many sections that provide tax relief and tax exemption to the income tax payer.On the other hand, there is Section 64... Read More

Tax implications of unexplained investment 4 min read

• Income Tax

Tax implications of unexplained investment

10 years ago

There is no bar in making investments from source of funds which can be explained by an assessee. But at some times investment is made... Read More