Income Tax

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

Penalty under the Income Tax Act 3 min read

• Income Tax

Penalty under the Income Tax Act

11 years ago

The Income Tax Act provides that if someone fails and/ or neglects to pay tax, penalty imposed on him and he is liable to pay... Read More

When and How To Complain Against Assessing IT Officer 2 min read

• Income Tax

When and How To Complain Against Assessing IT Officer

11 years ago

It is not that always the income tax payer is on the wrong side. Sometimes, the behavior and the attitude of the income tax assessing... 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

11 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

Penalty cannot be levied on the basis of voluntary surrender 4 min read

• Income Tax

Penalty cannot be levied on the basis of voluntary surrender

11 years ago

It has been recently held by the ITAT Mumbai in the case of Heranba Industries Ltd. (PAN/GIR No.- AAACH3787Q) vs. DCIT 9(2), ITA No.2292/Mum/2013, Mumbai,... Read More

Tax benefit under section 54 of the Income Tax Act 5 min read

• Income Tax

Tax benefit under section 54 of the Income Tax Act

11 years ago

An assessee can claim exemption from capital gains on sale of house property according to the sections 54, 54B, 54D, 54EC, 54F and 54G of... Read More

Application for Charitable Trust Registration Under Section 12 AA 2 min read

• Income Tax

Application for Charitable Trust Registration Under Section 12 AA

11 years ago

In Society for the Promotion of Education, Adventure Sport and Conservation of Environment versus Chief of Income Tax (2008) 216 CTR (All) 167, the Allahabad... 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

11 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

Insurance Policy As An Investment 2 min read

• Income Tax

Insurance Policy As An Investment

Manager 11 years ago

Insurance Policy – The Investment Investing on insurance policy is one of the most expensive ways of investment. It involves the cost of the insurance... 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

Manager 11 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