Income Tax

Save tax by making donations to charitable institutions under section 80G 2 min read

• Income Tax

Save tax by making donations to charitable institutions under section 80G

Manager 10 years ago

To promote charity towards the poor class of the society, the government of India is encouraging people to give donations which can also be claimed... Read More

Does loan transaction between a firm and its partner attract provisions of section 269SS? 2 min read

• Income Tax

Does loan transaction between a firm and its partner attract provisions of section 269SS?

Manager 10 years ago

The question was raised as to whether a loan transaction between a firm and its partner attracts the provision of Section 269SS of the Income... Read More

Powers of assessing officer to send intimation under section 143(1) 2 min read

• Income Tax

Powers of assessing officer to send intimation under section 143(1)

Manager 10 years ago

Sometimes, tax payers receive intimation of demand or that of refund from the income tax Department under section 143(1) of the Income Tax Act. Intimation... Read More

Save Income Tax By Investing Or Gifting Within The Family 2 min read

• Income Tax

Save Income Tax By Investing Or Gifting Within The Family

Manager 10 years ago

Investing to save income tax has its own positive benefits and aspects. First, it gives rebate on income tax and secondly it automatically improves your... Read More

High Court allows filing the revised return after service of intimation under section 143(1) 3 min read

• Income Tax

High Court allows filing the revised return after service of intimation under section 143(1)

Manager 10 years ago

The Kolkata High Court in the case of Tata Metaliks Ltd. vs. C.I.T. III, Kolkata, being ITA No. 301 of 2005, has held that an... Read More

Effects of Not Filing Income Tax Return in Time 2 min read

• Income Tax

Effects of Not Filing Income Tax Return in Time

Manager 10 years ago

Though filing of Income Tax return is voluntary but the Government of India has made the filing of return for any income which is taxable... 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

Manager 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

Some tax exemptions which can make you liable to penalty 2 min read

• Income Tax

Some tax exemptions which can make you liable to penalty

Manager 10 years ago

In case you want to avail some income  tax exemptions, you have to fulfill some conditions. If you fail to do so, you might not be... Read More

Getting gifts from relatives? Learn the tax implications

• Income Tax

Getting gifts from relatives? Learn the tax implications

Manager 10 years ago

NRI liable to pay Income Tax on the income earned in India 2 min read

• Income Tax

NRI liable to pay Income Tax on the income earned in India

Manager 10 years ago

According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More