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Articles by Amit Bajaj

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Filing income tax return after due date

  Amit Bajaj    17 August 2010 at 11:06

The due date for filing income tax return for corporate aseessees and other aseessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in force is 30th September and for others it is

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Posted in Income Tax  6 comments |   26277 Views


Provisions of Section 269SS and 269T under Income Tax Act

  Amit Bajaj    22 July 2010 at 13:29

Provisions of Section 269SS and 269T under Income Tax Act Finance is the important part and need of every business. The own capital of a person may not be always sufficient to meet the needs of finance of the business. Therefore the Loans and depo

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Posted in Income Tax  20 comments |   473829 Views


Compulsory maintenece of books of accounts under IT Act

  Amit Bajaj    21 July 2010 at 11:30

It is generally seen that there is confusion among taxpayers about maintenance of books of accounts under Income Tax Act like who is required compulsorly to maintain the books of accounts and for how many years one has to keep his books of accounts.

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Posted in Income Tax  11 comments |   33543 Views


CAPITAL GAINS UNDER INCOME TAX ACT 1961

  Amit Bajaj    27 March 2010 at 12:53

Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is l

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Posted in Income Tax  8 comments |   100878 Views


Some Views on Penal Provisions u/s 29(8) of MVAT Act

  Amit Bajaj    26 March 2010 at 11:38

It is well esteblished principle that the power to levy penality under taxation laws is incidental and ancillary to the power of collection of tax and is provided to make sure the compliance of tax deposits by the assessees. Taxation laws are welfar

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Posted in VAT |   10623 Views


SURVEY UNDER SECTION 133 A OF INCOME TAX ACT 1961

  Amit Bajaj    30 January 2010 at 12:09

Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent and to the exclusion of the other provisons of the a

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Posted in Income Tax  11 comments |   91521 Views


Use of section 144A

  Amit Bajaj    29 January 2010 at 11:53

Assesements under Income Tax Act 1961 are made U/S 143, 144, 147, 153. The criterias for selection of cases for scrutiny has been increased.

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Posted in Income Tax  7 comments |   17172 Views


Reassessement under Income Tax Act

  Amit Bajaj    29 January 2010 at 11:48

The power of assessement or reassessement of any income chargable to tax that have escaped assessement has been provided under secton 147 r w s 148 of Income Tax Act of 1961.If the assessing officer has the reason to believe that any income charga

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Posted in Income Tax  4 comments |   17874 Views