Applicability of Section 44AB of the Income Tax Act: The44AB section provides that people having business or profession should get his accounts audited by a... Read More
Income Tax
The ITAT, Mumbai on 07.01.2015 passed a judgment stating that if an assessee files the revised return of income after the receipt of notice under... Read More
A very common question that comes in one’s mind is that if someone claims a deduction for House Rent Allowance (HRA) against his taxable income,... Read More
Deemed dividend under section 2(22) from an Indian company or any dividend that is received from a foreign company is taxable in the hands of... Read More
There are two terms while dealing with online filing of Income tax returns which are often misunderstood or even misused “tax avoidance” and “tax evasion”.... Read More
The Gujarat high Court in the case of Commissioner of Income Tax – I vs. Sarwankumar Sharma, Tax Appeal No. 252 of 2014, has held... Read More
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
Definition Of Service As Per Service Tax Act Service is described in service tax act as the action that is taken for consideration and is... Read More
Receiving a gift more than rupees 50,000/- is taxable under the current tax regulations. The Indian gift tax Act was constituted on April 01, 1958... Read More
The Hon’ble Gujarat High Court in the case of Commissioner of Service Tax vs. Arvind Mills Ltd., 2014 (4) TMI 132, has held that a... Read More