Income Tax Articles


FAQs for filing of Form 3CA-3CD/3CB-3CD

  Shree    28 September 2022 at 14:06

CBDT issued FAQs for filing of Form 3CA-3CD/3CB-3CD



Benefits of Double Taxation Avoidance Agreement (DTAA)

  Taxblock    28 September 2022 at 08:46

The DTAA (Double Taxation Avoidance Agreement) assists NRIs who work outside of India in avoiding paying double taxes on income earned in India and their residency country.



Revised guidelines for compounding of offences under IT Act 1961

  FCS Deepak Pratap Singh    26 September 2022 at 10:04

As you are aware the Compounding of an offence is a process or mechanism in which a defaulter is reprieved of major legal consequences and imprisonment by paying specified sum. An offence can be compounded by Principal Chief Commissioner or Chief Commissioner of Director-General having jurisdiction where defaulter resides or running business or profession.



Tax on Virtual Digital Asset

  CA Himanshu Gandotra    26 September 2022 at 08:42

Virtual Digital Assets or Crypto-currency or NFTs are the center of attraction in today’s finance world. One gets very eager to learn and trade in these avenues considering their nature of quick and big profits. As we all know, these assets have grown tremendously in value in the last decade.



Haven't received income tax refund yet? Here are ways to check status of refund

  Poojitha Raam Vinay    23 September 2022 at 14:10

The processing of the return takes place only after e-verifying the Income Tax Return.



Circular 18/2022 issued by CBDT on Section 194R

  Shikhar Khurana    19 September 2022 at 10:48

Vide the powers conferred under sub-section (2) of section 194R of the Income Tax Act, 1961 (‘Act’) the Central Board of Direct Taxes ('CBDT') has issued guidelines for removal of difficulties in implementation of this section. These guidelines are binding on the income tax authorities and on the person providing such benefit/ perquisite.



Inquiry made u/s 142 or 142A of income tax act

  Taxblock    17 September 2022 at 07:06

Section 142 and 142A of the Income-tax Act deal with giving notice to the assessee to submit returns, produce accounts, documents, etc.



Notices u/s 142(1) of Income Tax Act

  Taxblock    16 September 2022 at 08:59

Notices are issued by the income tax department under the various provisions of the Income Tax Act to the assesses with the purpose to assure greater tax compliances. The notices are covered under section 142 of the income tax act.



Mismatch Of TDS With 26AS

  Taxblock    15 September 2022 at 08:49

Mismatch of TDS refers to the situation when the details of Form 16 and Form 26AS differ from each other.



Scrutiny of Taxpayer by Income Tax Department

  Taxblock    14 September 2022 at 08:50

The scrutiny aims at providing an opportunity of being heard to the accuracy of the return through documentary evidence.




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