If a person is the owner of more than one residential property, only one of the properties which he chooses will be treated as a... Read More
Income Tax
So far taking loan or paying back is concerned; the topic is a very inexhaustible one. Let us talk about the ‘Educational Loan” as this... Read More
It is not that always the assessee who is wrong. At times, the behavior and the attitude of the Assessing Officers and other staff of... Read More
When salaried people file their final proofs relating to tax, if an employee fails to file any detail, the deduction claimed by him is not... Read More
If the Assessing Officer is not satisfied regarding the authenticity or completeness of the books of accounts maintained by the assessee or where in his... Read More
Section 73 of the Income Tax Act contains the provisions relating to carry forward and set off of losses arising from speculation business. The explanation... Read More
If you have failed to file your income tax return by the end of the assessment year without any genuine ground for failing to do... Read More
Section 234 A, B, C of the Income Tax Act deals with the different penalty provisions for non-payment of Income Tax. Tax should be paid... Read More
The On-Line Tax Accounting System (OLTAS) was introduced in April 2004, for the accounting and reporting of receipts and payments of the Direct Taxes through... Read More
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