A deduction which is otherwise allowed as per the provisions of the Income Tax Act regarding — a) Any amount which is payable by... Read More
Income Tax
The Hon’ble Bombay High Court in the case of Commissioner of Income Tax¬ (Appellant) vs. Sonic Biochem Extractions Pvt. Ltd. (respondent) being ITA No. 2088... Read More
Filing of income tax return is an obligation to be fulfilled by individuals. It is a social duty by the citizens of the country. The... Read More
The cabinet minister discussed the new revised tax code for direct tax. The revised bill for direct tax proposes a new higher slab of Income... Read More
Having tax problem? Ask ombudsman for help
2 min read
Are you struggling to get your refund from the Income Tax department? Are you been harassed many times for an income tax scrutiny for the past... Read More
The term “Survey” has not been defined in the Income Tax Act. However as per Concise Oxford Dictionary, “Survey” means having a view over anything,... Read More
The ITAT, Delhi in the case of Assistant Commissioner of Income Tax vs. Vijay Singh Kadan, Legal Heir of Late Shri Randhir Singh Kadan, 2014... Read More
Can forming a HUF help in saving taxes?
6 min read
A Hindu Joint Family or a HUF gives specific advantages regarding taxation. The Income Tax Act and the Wealth Tax Act recognize HUF as an... Read More
Tax Treatment of Earnest Money Forfieted
2 min read
What is earnest money? When someone purchases or sells an immovable property, normally the purchaser gives an amount of earnest money before he makes the... Read More
All about Intra Day trading
2 min read
All about Intra Day trading An insight into Intra Day Trading The common name for Intra Day Trading is “Day Trading”. Here, a trader acquires... Read More