Income Tax

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act 14 min read

• Income Tax

Completion and Posession of House not mandatory requirement to Claim benefit u/s 54F Income Tax Act

Aditijh 10 years ago

Income Tax – Section 54F. – Whether in the absence of completion and possession by way of registration and transfer of its title of flats... 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

Is the CBDT instruction fixing monetary limit for appeals retrospective in nature? 3 min read

• Income Tax

Is the CBDT instruction fixing monetary limit for appeals retrospective in nature?

10 years ago

It has been recently held in the case of Commissioner of Income Tax-II, Agra and another (Appellants) vs. Shyam Biri Works, Allahabad (Respondent), being Income... Read More

Section 54F does not require completion of the residential house within three years 4 min read

• Income Tax

Section 54F does not require completion of the residential house within three years

10 years ago

The Hon’ble High Court at Karnataka on 13.7.15 has held that the provisions of section 54F are beneficial in nature and should be interpreted liberally.... Read More

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A 4 min read

• Income Tax

Issuance of notice under section 143(2) is not mandatory before making an assessment under section 153A

Aditijh 10 years ago

The ITAT Mumbai in the case of Sumanlata Bansal( PAN- AAHPB0141N) vs. the Assistant Commissioner of Income Tax, Central Circle 8 Mumbai, ITA nos. 525... Read More

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs 10 min read

• Income Tax

Changes in Income Tax Return forms in AY 2015-16 and some common FAQs

10 years ago

New forms, additional information, completely paperless filing…. the Finance Ministry has introduced several changes in the way taxpayers will file their returns this year. As... Read More

Insurance Policy As An Investment 2 min read

• Income Tax

Insurance Policy As An Investment

Manager 10 years ago

Insurance Policy – The Investment Investing on insurance policy is one of the most expensive ways of investment. It involves the cost of the insurance... Read More

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971 2 min read

• Income Tax

Denial of benefit of set off of the speculation loss and explanation to section 73 of Income Tax Act, 1971

Manager 10 years ago

Every year, Income tax return registration and filing of ITR return online or offline is a practice followed both by companies and individuals. An important... Read More

Recording of reasons mandatory while levying penalty 2 min read

• Income Tax

Recording of reasons mandatory while levying penalty

Manager 10 years ago

Penalty cannot be imposed if an Assessing Officer does not record his finding that there was a concealment of income or furnishing of incorrect details... Read More

Income Tax department decided to scan TDS of corporate executives 2 min read

• Income Tax

Income Tax department decided to scan TDS of corporate executives

Manager 10 years ago

The Income Tax department has decided to scan the salary of the executives of corporate for the purpose of examining the concealed tax opportunities in... Read More