16th September: Is the return from share market being shown as business income or capital gains? Well, to remain safe, you may opt for having... Read More
Income Tax
How a Self-Occupied House is Taxed
3 min read
Any financial benefits derived from one’s own house property are considered as an income and is thus taxable under the Income Tax Act. “Income from... Read More
What is Revised Return? If an assessee has already filed the return before due date and subsequently he discovers that there is any omission or... 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
The ITAT Delhi in the case of Ms. Images Credit and Portfolio (P) Ltd. vs. ACIT (ITAT Delhi), I.T.A. No. 5301 to 5305/Del/13 has recently... Read More
Rules for NRIs selling property in India
2 min read
A new trend in the NRI property rules has been observed recently. NRIs (non resident Indians) coming to India to sell their purchased or inherited... Read More
If you receive capital assets either by way of gift or by way of inheritance through a will from your dear ones, the liability towards... Read More
Most of the taxpayers have little knowledge about a tax; as such they panic upon receiving a tax notice. But instead of panicking, one should... Read More
Section 263 of the Income Tax Act deals with the powers given to the Commissioner of Income tax to ask for and check the records... Read More
The Income Tax Appellate Tribunal in Shri Paramjeet Singh Chhabra vs. Income Tax Officer 1(2) being ITA No. 1 12/Ind/2013 (for the A.Y. 2005-06) by... Read More