Guidelines Issued by CBDT For the Manual Selection Of Returns For Complete Scrutiny during the FY 2019-20
The parameters based on which the manual selection of returns for the complete scrutiny in the FY 2019-20 are as mentioned below: (i) Cases that... Read More
Income Tax
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Advance tax indicates that income tax has to be paid in advance rather than a lump sum payment done the year-end. It is also referred... Read More
INCOME TAX INFORMANTS REWARD SCHEME 2018
5 min read
A new reward scheme has been introduced in supersession of the ‘Guidelines for grant of rewards to Informants, 2007’ and various existing guidelines on the... Read More
The gift tax had been abolished about 20 years ago in India. However, certain provisions for making gifts liable to tax for the recipient were... Read More
Income Tax Department asked by CAG to tighten the inspection of farm income tax exemption claims
2 min read
Tax exemption claims on farm income have caught the eye of the Comptroller and Auditor General of India (CAG) who has in turn called for... Read More
The appeal was filed by the Revenue in order to challenge the Income Tax Appellate Tribunal’s (“the Tribunal” for short) judgment. The questions presented for... Read More
Changes in the TDS provision via the Finance bill,2019 passed by the Lok Sabha and Interim Budget, 2019
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF (This is applicable w.e.f. 01/09/2019)... Read More
Sec 194M (new section): TDS on payment surpassing Rs 50 lakhs to either a Contractor or a Professional by Individual/HUF (This is applicable w.e.f. 01/09/2019)... Read More
Non-Resident Indians – Which Income/Assets are Taxed?
The main question that arises for any non-resident Indian is that which income is liable to tax, which assets need to be declared, etc. It... Read More
Declaration of Income Tax Returns: Does an NRI have to declare their foreign bank account information?
When it comes to disclosure of overseas accounts of NRI’s, there is a lot of confusion and chaos pertaining to the disclosure of the overseas... Read More
ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar 
Tax Officials Unleash Digital Dragnet: How New Raid Powers Redefine Privacy, Property Rights in India and likely to Fuel Corruption 
Income Tax Department Rewards for Reporting Tax Evasion: A Comprehensive Guide 
Forfeiture of Gratuity by Employer- What are the Remedies for an employee- Can employer be challenged?