What is meant by Assessment? Assessment defined as �Assessment Includes Re- Assessment and checking return of income for confirming its correctness�.
1. Forget Sending ITR V to Income Tax DepartmentEvery Tax Payer is required to send a duly signed copy of ITR V form to Income Tax department within 120 days of e filing an Income Tax Return at
1. What is this new Act all about ?Flight of money representing undisclosed incomes and asset creation abroad has been a perennial source of concern. As a one time measure to combat, control and bring to tax such black moneys, the Indian governmen
RETURNING INDIANSA returning NRI should know and understand various aspects of Foreign Exchange Regulations (FEMA), Indian Taxation and Banking Regulations in order to rearrange his financial affairs in India and outside India.FOREIGN EXCHANE MANAGEM
Arjuna (Fictional Character): Krishna, recently everyone has celebrated the festival of Raksha Bandhan along with that many Taxpayers have filed Income Tax Returns. Krishna please explain, what difficulties arise while filling Income Tax Returns, wha
CA FINAL DIRECT TAX (Income Tax) Ready reference of case laws relevant for November 2015About Notes: The case laws are summarized from supplementary study material issued by The Institute of Chartered Accountants Of India for the Final Examination to
One of the most important reasons for filing tax return is to claim excess of tax paid to the government. Corporations and various institutions deduct tax at the time of paying wages or contract fees. However, not all the times the tax is owed to the
Planning ahead is not only crucial but also fetches tax benefits. Buying life insurance for example fetches tax deductions on premium paid and the maturity amount received is tax exempt under section 10 (10D). Not only this, the assesee also gets ded
A detailed analysis of Exemption under Section 10(10CC) alongwith the provisions of Section 17(2), 40(a)(v), 192(1A), 195A, 198, 199, 200 and 203 of the Income Tax Act, 1961. Highlighting the ruling under Sedco Forex International Drilling Inc. (2012
File your tax returns before August 31It�s time to pay more attention as the income tax department seeks more disclosures to catch tax evaders.THIS is the time of the year when people run around for filing their income tax return. This year the
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