The structure of the India Tax system is quite simple, detailed but differentiable in power among State, Central, and other local governments. There are some... Read More
Income Tax
The case between Indian Income Tax vs. Dalmia Dyechem Industries: – It seems that the section 271 1 c states that any kind of penalty... Read More
In simple layman terms capital gains as the name suggests is a type of monetary gain which has been acquired from various types of capital... Read More
Taxpayers in India whether they are salaried people or not, prefer to involve themselves in share trading as it is an easy way of earning... Read More
Ways of Reducing TDS
2 min read
Ways of Reducing TDS The process of TDS on salary is very confusing for many people having knowledge about Income Tax return. There are some... Read More
Beware of Lottery Scams
2 min read
Today it is very common to receive lottery scam emails which notify you that you have won some prize in a lottery with the promise of... Read More
No penalty under section 271(1) (c) can be levied on account of failure in deduction of TDS
3 min read
The ITAT Mumbai in the case of Rushi Builders and Developers Hotel Bay View, Gorai Khadi, L. T. Road, Borivali (W), Mumbai – 400 091,... Read More
Income Tax Department launches Toll-free line for complaints related to black money in elections
2 min read
In the run up to the upcoming Assembly polls in Delhi, the Income Tax Department has launched a Toll-free number – 1800 110 132 –... Read More
Set off of losses under the income tax laws
5 min read
Though business aims to make income, there is always a possibility of incurring loss. On the basis of the principles of natural justice, a set-off... Read More
The Supreme Court in a recent decision held that a defaulter of income tax cannot be absolved of paying penalty only for making a voluntary... Read More