Tax evasion is an offence and should always be avoided. A tax planning till it is lawful does not only reduce the tax burden of a tax payer but also... Read More
Income Tax
TDS not deductible merely on book entry
2 min read
The Income Tax appellate Tribunal in ITA NO.2603/Mum/2011 (Income Tax Officer vs. M/s Pipavav Shipyard Ltd.) dismissed the appeal of the revenue. It was an... Read More
How to Face an Income Tax Raid?
2 min read
The term “Raid” in the law of Income Tax in India is an interaction with the Income Tax Department which leads to chaos and panic.... Read More
The Income Tax department in a circular dated 9.4.13 has declared that it has become mandatory for all deductors to issue the TDS certificates for... Read More
Filing of Income Tax Returns by NRIs
2 min read
31st July is the due date for filing income tax returns for any financial year. If you are a Non Resident Indian (NRI) and trying... Read More
PENAL PROVISIONS UNDER INCOME TAX ACT
2 min read
PENAL PROVISIONS UNDER INCOME TAX ACT Provisions under section 221: Section 221(1) of the Act states that if a person fails to pay tax i.e.... Read More
Which LIC Policy Is Best For Me?
2 min read
Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More
The procedure for the computation of book profit as per section 115JB should be followed strictly
3 min read
The ITAT Chennai in the case of the Deputy Commissioner of Income Tax, Corporate Circle-I, Coimbatore vs. M/s. Western India Cashew Company Pvt. Ltd., 2015... Read More
Can penalty under section 234E of the Income Tax act be waived of under any circumstances?
2 min read
If a tax payer is charged with a penalty according to the provisions of section 234E of the Income Tax Act, the same has to... Read More
All you wanted to know about PAN Card
3 min read
What PAN card is? PAN card is like a driving license or an aadhar card which bears a unique number. This unique number is a... Read More