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
Income Tax
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
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
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
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
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
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
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
Many tax savings instruments provide investment in the name of spouse, children or parents, subject to few restrictions. One can open a fixed deposit or purchase... Read More
The curse of the Indian government establishment is that power is in the hands of people with low self-disposition and they run amok with it.... Read More