Income Tax

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

Impacts of Non-issuance of TDS certificate within time 2 min read

• Income Tax

Impacts of Non-issuance of TDS certificate within time

10 years ago

There is a grievance that often the tax deductors fail to issue TDS certificate in spite of many reminders by the deductee for such issue.... Read More

Do donations help to minimize an individual’s tax liability? 2 min read

• Income Tax

Do donations help to minimize an individual’s tax liability?

10 years ago

In the tax-planning season, most people rush to make investments to reduce their tax liability. It is found that individuals pay more taxes than they... Read More

How to file the income tax return of a deceased assessee? 4 min read

• Income Tax

How to file the income tax return of a deceased assessee?

10 years ago

If an assessee dies intestate, that is without making a will, his return of income tax can still be filed by his legal heirs and... Read More

CBDT procedure for launching prosecution for TDS-TCS default 3 min read

• Income Tax

CBDT procedure for launching prosecution for TDS-TCS default

10 years ago

The Central Board of Direct Taxes has laid down a procedure for launching prosecution for TDS-TCS default. In connection with the above the CBDT has... Read More

The Department cannot access the documents relating to the third party obtained in a search operation 5 min read

• Income Tax

The Department cannot access the documents relating to the third party obtained in a search operation

10 years ago

It has been held by the Hon’ ble Delhi High Court in R. Batliboi & Co. vs. The Department Of Income Tax, in W.P.(C) 9479/2007... Read More

Amendment in Section 2(14) Capital Gains 2 min read

• Income Tax

Amendment in Section 2(14) Capital Gains

Aditijh 10 years ago

In a recent amendment in Income Tax Act 1961, that came into effect on 01.04.2014 with its assessment year 2014-15, item (b) was substituted to... Read More

Impact of Budget 2014 on the amount spent towards Corporate Social Responsibility 3 min read

• Income Tax

Impact of Budget 2014 on the amount spent towards Corporate Social Responsibility

10 years ago

The Companies Act, 2013 imposes a liability upon some companies having net profit amounting to Rs. 500 crore or more or an annual turnover of... Read More

Transfer of Immovable Property is going to Attract TDS 2 min read

• Income Tax

Transfer of Immovable Property is going to Attract TDS

Manager 10 years ago

New section inserted: A new section has been inserted and numbered as section 194-IA of the Income-tax Act. When the consideration amount shall be credited... Read More

Deductions on account of expenses on medical treatment under Section 80DDB 2 min read

• Income Tax

Deductions on account of expenses on medical treatment under Section 80DDB

Manager 10 years ago

One can avail deduction for expenses on account of medical treatment of himself or any of his dependents in case of some specified diseases like... Read More