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
Income Tax
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
Tax Issues of NRIs returning to India
2 min read
While staying and working abroad, some people having Indian origin decide to return to India for the purpose of reuniting with their family. At times... Read More
To understand the tax treatment of getting exemptions under home loan that have been partially received or disbursed by the bank, it is necessary to... Read More
How to tackle an income tax raid?
2 min read
The term “Raid” in laws relating to Income Tax is an unexpected encounter with the income tax department which people are normally very afraid of.... Read More
Mere cash deposit of more than Rs 10 lakhs in bank doesn’t indicate income has escaped Taxation: ITAT
11 min read
The assessee had deposited cash in excess of Rs 10 lakhs in his saving bank account but he had not filed return of income. The... Read More