Income Tax Articles

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.

Income tax raid and rights of an assessee during the raid

Taxblock 13 September 2022 at 08:58

An income tax raid is an operation of search and seizure which is conducted by the income tax department on the business or residential premises of taxpayers with an objective to reveal all the undisclosed income of the assesses.

What is the agreement of a gift and how to make it?

Ashok Pitroda 09 September 2022 at 08:47

The article explains how to make a gift agreement in very simple terms.

Accounting, Audit and Taxation Future & Options (F&O)

CA Aakarsh Jain 08 September 2022 at 16:46

Trading in shares and derivatives (F&O trading) is commonplace today. You won't believe that the depositories added approximately 14.3 million new investors during the year that concluded on March 31, 2021. We also cannot ignore the influence of digitalization and the platforms available for stock and derivative market investing.

Tax Resident Certificate

Neethi V. Kannanth 08 September 2022 at 09:02

In order to obtain the relief from double taxation of income under DTAA, one must obtain a certificate of residence known as Tax Residency Certificate. Tax Residency Certificate once issued is valid for an entire financial year.

Taxation of unlisted shares & biggest catch on disclosure

Yash Jain 07 September 2022 at 08:52

Nowadays there is a boom in equity transactions, investment etc., Indian investors have gone beyond traditional gold, silver, real estate to equities, mutual funds and few have further seen to be investing in the public companies which are about to be listed (Shares brought in unlisted market).

5 financial issues that you should pay attention to in September

CA Aakarsh Jain 07 September 2022 at 08:51

There are several significant changes coming up in September that will affect your savings, regardless of whether you pay income taxes, use debit cards for regular purchases, or participate in the national pension system.

Cash transactions and its income tax implications

CA Umesh Sharma 05 September 2022 at 13:50

Mahalaxmi Festival is celebrated with great enthusiasm by the taxpayers and the taxpayers ensure that the proper preparations and arrangements are made for arrival of Goddess Mahalaxmi. Along with this the taxpayer should keep in mind the provisions while dealing in cash.

Whether the condition of pre-deposit of 20% tax is a mandate for entertaining stay application per se?

Adv. Ravish Bhatt, ADIT, CIOT 05 September 2022 at 10:11

In terms of modified instruction No. 1914 dated 21.03.1996 issued by CBDT, payment required to be made by the assessee as a precondition for stay of demand disputed before CIT(A) is 20%.

FAQs - Clause 44 in Form 3CD under Section 44AB of the IT Act 1961

Nitin Bhuta 03 September 2022 at 10:28

The author has made the attempt to present this article in FAQ format by curiously and incisively watching and analysing, threadbare, the insightful discussions pertaining to clause 44 reporting in Form 3CD for the benefits of all the readers of this article.