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
Income Tax
The profits arising out of sale of an agricultural land which is far away from the limits of municipality cannot be treated as a regular... 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
According to the Income Tax Act, 1961 a non-resident Indian is defined as any person who is an Indian citizen or a person having an... Read More
The ITAT, Jaipur in the case of Income Tax Officer, TDS, Alwar vs. LIC of India , 2015 (10) TMI 2439 , has held that... Read More
The reason why conventional methods of filing a tax include consulting an auditor to calculate your income, the tax that comes with it and the... Read More
The draft assessment request on 30th March, 2015 was even with the choice for the Supreme Court in GKN Driveshafts (India) Ltd v/s Income Tax Officer and Others reported... Read More
Joint Ownership of the house is something that the India government is considering of applying. This is a very important and path breaking decision that... Read More
If assessments are complete, disallowances should be considered against additional disclosures
4 min read
The Income Tax Tribunal, Mumbai in the case of Shri Uday C Tamhankar, C/8 Nand Dham Society, L T Road, Borivali (West), Mumbai-400092 (Appellant) vs.... Read More