Income Tax

One can claim deduction on only one residential property occupied by him 2 min read

• Income Tax

One can claim deduction on only one residential property occupied by him

Manager 10 years ago

If a person is the owner of more than one residential property, only one of the properties which he chooses will be treated as a... Read More

Loan Repayments How to Lessen Burden Of Education Loan 2 min read

• Income Tax

Loan Repayments How to Lessen Burden Of Education Loan

Manager 10 years ago

So far taking loan or paying back is concerned; the topic is a very inexhaustible one. Let us  talk about the ‘Educational Loan” as this... Read More

How to Lodge Complaint Against Illegal Behavior of Assessing Officers? 2 min read

• Income Tax

How to Lodge Complaint Against Illegal Behavior of Assessing Officers?

Manager 10 years ago

It is not that always the assessee who is wrong. At times, the behavior and the attitude of the Assessing Officers and other staff of... Read More

Can one claim deduction or exemption if missed in form 16? 2 min read

• Income Tax

Can one claim deduction or exemption if missed in form 16?

Manager 10 years ago

When salaried people file their final proofs relating to tax, if an employee fails to file any detail, the deduction claimed by him is not... Read More

When can an Assessing Officer reject books of accounts? 2 min read

• Income Tax

When can an Assessing Officer reject books of accounts?

Manager 10 years ago

If the Assessing Officer is not satisfied regarding the authenticity or completeness of the books of accounts maintained by the assessee or where in his... Read More

Section 73 of the Income Tax Act- carry forward/ adjustment of speculative losses 2 min read

• Income Tax

Section 73 of the Income Tax Act- carry forward/ adjustment of speculative losses

Manager 10 years ago

Section 73 of the Income Tax Act contains the provisions relating to carry forward and set off of losses arising from speculation business. The explanation... Read More

Expecting arrest for non-filing of tax return? 3 min read

• Income Tax

Expecting arrest for non-filing of tax return?

Manager 10 years ago

If you have failed to file your income tax return by the end of the assessment year without any genuine ground for failing to do... Read More

Interest under section 234 A, B, C of the Income Tax Act 2 min read

• Income Tax

Interest under section 234 A, B, C of the Income Tax Act

10 years ago

Section 234 A, B, C of the Income Tax Act deals with the different penalty provisions for non-payment of Income Tax. Tax should be paid... Read More

On-Line Tax Accounting System Correction Scope and Procedure 3 min read

• Income Tax

On-Line Tax Accounting System Correction Scope and Procedure

10 years ago

The On-Line Tax Accounting System (OLTAS) was introduced in April 2004, for the accounting and reporting of receipts and payments of the Direct Taxes through... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

10 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More