According to the provisions of the Income tax Act, 1961, a person is taxed not only for his own income but sometimes also for the... Read More
Income Tax
Sometimes, tax payers receive intimation of demand or that of refund from the income tax Department under section 143(1) of the Income Tax Act. Intimation... Read More
Chapter VIA of the Income Tax Act, 1961 deals with deductions allowed to assessees under section 80 of the Act. The assessee can reduce its... 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
New rules for e-filing of wealth tax returns
2 min read
The Income Tax Department had been amended the Wealth Tax Rules. The Central Board of Direct Taxes has recently framed new rules to amend the... Read More
The Companies Act, 1956 provides that the balance sheet and profit and loss account of a company should truly state all the affairs of the... Read More
As part of a fresh initiative and new development, website of TDSCPC (TRACES) have now made possibility of online correction of e-TDS returns on their... Read More
Every country in the world has its own currency except Europe Nations. The whole continent of Europe has only one global exchange currency i.e. Euro.... Read More
What is the procedure of Compliance of TDS on Sale of Immovable Property under Section 194-1A?
3 min read
The Finance Bill 2013 has incorporated a new section 194-IA in the Income Tax Act. According to the provision TDS at the rate of 1%... Read More
The ITAT Kolkata on 06.05.2015 has held that no addition of income can be allowed based on a statement recorded under the provisions of section... Read More