Income Tax Articles

Case Study 5 - Transfer of Property Act 1882

Posted by FCS Deepak Pratap Singh 02 August 2022 12992 Views

It is a well-established fact that a person cannot transfer to another person more than he has or a person cannot transfer to another person what he does not has at the time of transfer.

What is Change in GST on Renting of Residential Property?

Posted by CA Umesh Sharma 01 August 2022 11329 Views

Changes relating to GST rate, in pursuance of recommendations are coming into effect from the 18th of July 2022, CBIC has issued notification no. 5/2022 regarding Reverse Charge on renting of residential dwelling for use as residence to a registered person.

Presumption of constructive notice concerning Transfer of Property Act, 1882

Posted by FCS Deepak Pratap Singh 30 July 2022 5968 Views

Section 3 of the Transfer of Property Act, 1882 asserts under what circumstances a person is said to have a knowledge of fact or notice. Notice is mentioned in section 39, 40, 41, 53 and 53(A) of the Transfer of Property Act.

Attention: ITR Due Date may not be extended, File ITR before 31st July 2022 to avoid late fees of 1000/5000

Posted by CA Umesh Sharma 29 July 2022 12491 Views

The Due Dates for all Individuals, HUF's and Firms who are not required to audit their books of accounts, company assessee, LLP's assessee, etc. are required to file their Income Tax Return before 31st July,2022. So this is the last week to file Income Tax Return.

Cases of Compulsory Scrutiny of Income Tax!

Posted by CA Umesh Sharma 28 July 2022 10555 Views

CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23. Also, procedure for compulsory selection has also been provided in the guidelines provided by CBDT.

Cryptocurrencies and Taxation thereof under Indian Income Tax Act, 1961

Posted by Adv. Ravish Bhatt, ADIT, CIOT 28 July 2022 6962 Views

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.

5 Consequences Of Not Filing Your Income Tax Return

Posted by Shruti 28 July 2022 11361 Views

You may be thinking to yourself, "Why should I be concerned about filing my taxes? After all, I don't owe anyone anything. " Well, let me tell you, there are many consequences of not filing an income tax return that can have a huge impact on your life. Here are 5 of them!

Practical point of views on Sec 44AD deemed profit vs Actual Profit

Posted by Akhil Pachori 28 July 2022 10077 Views

Practical Point of View in cases where Income is higher than 8%, but the person is declaring deemed profit as income u/s 44AD

Understanding What is HRA: Details & Calculation Process

Posted by Niyati 26 July 2022 15541 Views

HRA is essentially a part of your salary and is tax exempted under section 10 (13A). In other words, HRA is an allowance given by your employer to pay for your accommodation. You are entitled to claim this allowance even if your employer doesn't pay an HRA or if you're self-employed.