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

10 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

10 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

10 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

10 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

10 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

10 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

10 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

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