Income Tax Articles

Treatment of conversion of a capital asset as stock-in-trade| Section 45(2)

CA Santhosh Gupta Kethepalli 12 August 2020 at 09:29

What is the treatment of conversion or treatment of a capital asset as stock-in-trade?

Section 115BAC- Should you go for the new tax regime?

Shivangi Agrawal 11 August 2020 at 09:57

From FY 2020-21, you can choose to pay income tax under an optional new tax regime. The new tax regime is available for individuals and HUFs. “Lower tax rates but no deductions/exemptions” is the key feature

Vivad se Vishwas: Settlement of Disputes under Income Tax Laws

Karan Khanchandani 11 August 2020 at 09:47

Recently, measures have been taken by the government to reduce and settle the pending income tax litigations by introduction of Vivad se Vishwas scheme through budget announcement, notifying it as an Act on 17th March, 2020

International Taxation: Decoding DTAA & Foreign Tax Credit

Karan Khanchandani 10 August 2020 at 10:12

When the same income is taxed more than once, it creates double taxation. This may be due to when a person is taxed in more than one country for the same income which he had earned, leads to double taxation

Belated Filing Of Income Tax Return For Financial Year 2018-19

CA Rahul Mittal 10 August 2020 at 10:11

As per section 139(4) of Income Tax Act, a belated return can be filed before the expiry of one year from the end of relevant assessment year or before the completion of assessment whichever is earlier.

Concept of "Deemed Owner" under the Income Tax Act,1961

CA Mehul Thakker 08 August 2020 at 10:41

The head "Income from house property" is one of the significant heads of income while determining the total income of a taxpayer. This head is a notional head of income.

How to prepare Grounds of Appeal to ITAT

Heer Gajjar 06 August 2020 at 12:23

An appeal is generally filed with ITAT in either Form 36 / 36A. However the forms by themselves are not self-sufficient to file an appeal. The appeal to be filed with ITAT should also be accompanied by GoA and SoF.

Form 26AS - Know how to check your tax credit

CA Shrinkhla Gupta 05 August 2020 at 10:26

Issuance of TDS certificate is an obligation for the deductor and you can check the status of TDS deducted from such certificates.

Unexplained Cash Credit- Section 68 of the Income Tax Act

Amit Rai 05 August 2020 at 10:14

Section 68 of Income Tax Act is one of the debated section which brings huge numbers of litigation and judgments, especially in case of Demonetisation, we have seen a number of assessment orders have been passed by the assessing officer invoking section 68