Income Tax

Revision of Tax Audit Report 2 min read

• Income Tax

Revision of Tax Audit Report

Manager 10 years ago

Generally, there is no provision regarding revision of a tax audit report. But if an assessee changes the financial statement, a new tax audit report... Read More

Rules for NRIs selling property in India 2 min read

• Income Tax

Rules for NRIs selling property in India

Baisakhi Ganguly 10 years ago

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

“Special audit” under the provisions of the Income Tax Act 2 min read

• Income Tax

“Special audit” under the provisions of the Income Tax Act

Baisakhi Ganguly 10 years ago

Special audit is conducted when the Assessing Officer during any proceedings fails to understand the complexity in accounts. With the prior approval of Chief Commissioner... Read More

The Provisions relating to Clubbing of Income 2 min read

• Income Tax

The Provisions relating to Clubbing of Income

Manager 10 years ago

Generally a person has to pay tax for his own income. But there are cases where a person is taxed for income belonging to somebody... Read More

The New Company Bill 2011: Incorporation & Raising Capital 2 min read

• Income Tax

The New Company Bill 2011: Incorporation & Raising Capital

Aditijh 10 years ago

The Companies Act 1956 was supplanted by a new company bill passed as Companies Bill 2011, passed in Lok Sabha on Dec 18, 2012 at... Read More

Be Ready for INR touching level of Rs 70 per USD and Sensex touching 15000 levels 4 min read

• Income Tax

Be Ready for INR touching level of Rs 70 per USD and Sensex touching 15000 levels

Manager 10 years ago

India Rupee (INR) today at this time is hovering around 61.27 per USD. It touched all time low yesterday and fell below level of Rs... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

Manager 10 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More

Penalty under the Income Tax Act 3 min read

• Income Tax

Penalty under the Income Tax Act

Manager 10 years ago

The Income Tax Act provides that if someone fails and/ or neglects to pay tax, penalty imposed on him and he is liable to pay... Read More

When and How To Complain Against Assessing IT Officer 2 min read

• Income Tax

When and How To Complain Against Assessing IT Officer

Aditijh 10 years ago

It is not that always the income tax payer is on the wrong side. Sometimes, the behavior and the attitude of the income tax assessing... Read More

1,080 Additional Income Tax Assessment Offices To Open In India 2 min read

• Income Tax

1,080 Additional Income Tax Assessment Offices To Open In India

Aditijh 10 years ago

It has been a common speculation that Indians pay less tax than they actually should. Myriad techniques are devised to chalk out a plan that... Read More