Income Tax

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent 2 min read

• Income Tax

Income tax deductions towards expenses for medical treatment of a disabled or ailing dependent

Manager 10 years ago

The Income Tax Act, 1961 provides special deductions in the income tax of a taxpayer who has a disabled or ailing dependent for whom the... Read More

No penalty under section 271(1) (c) can be levied if assessee discloses his income in notes to accounts 3 min read

• Income Tax

No penalty under section 271(1) (c) can be levied if assessee discloses his income in notes to accounts

Manager 10 years ago

The Delhi High Court in the case of Karan Raghav Exports vs. the Commissioner of Income Tax, ITA 1152 of 2011 dealt with the substantial... Read More

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income 2 min read

• Income Tax

Tax Payers now don’t have to succumb to Coercion and admit Undisclosed Income

Manager 10 years ago

Traditionally since ages Income Tax Officers have been harassing tax payers and coercing them to admit to undisclosed income.   Not any more now, Well,... Read More

Getting income tax refunds from tax ombudsman 2 min read

• Income Tax

Getting income tax refunds from tax ombudsman

Manager 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

How to speed up your pending income tax refund? 2 min read

• Income Tax

How to speed up your pending income tax refund?

Manager 10 years ago

Prolonged delay in getting income tax refund even after the due time is often faced by tax payers. Running for a long period before the... Read More

Lawful tax planning does not amount to an offence 3 min read

• Income Tax

Lawful tax planning does not amount to an offence

Manager 10 years ago

Tax evasion is an offence and should always be avoided. A tax planning till it is lawful does not only reduce the tax burden of a tax payer but also... Read More

High Value Transactions To Attract Income Tax Scrutiny

• Income Tax

High Value Transactions To Attract Income Tax Scrutiny

Manager 10 years ago

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

Manager 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

Latest Home Loan Income Tax Benefits 2 min read

• Income Tax

Latest Home Loan Income Tax Benefits

Manager 10 years ago

Saving on income tax takes lot of planning and thoughtful investment. And so as to achieve maximum benefits from the existing income tax rules and... Read More

All about Wealth Tax Return 3 min read

• Income Tax

All about Wealth Tax Return

Manager 10 years ago

Every person as well as Hindu Undivided Family and Companies having net wealth more than the maximum amount not chargeable to wealth tax has to file... Read More