Income Tax Articles

Various Assessment u/s 143

Posted by Arshita Gupta 10 September 2019 16691 Views

Sec 143(1): Summary Assessment: It provides for the computation of the total income of an assessee after making the following adjustments: Any arithmetical err...

Revision of TDS Return in case of PAN error Notice received from Department

Posted by CS Deepak Singhal 05 September 2019 27389 Views

It is a very common mistake at the time of submitting the TDS return that the PAN of the applicant entered wrongly, now this will make your TDS return defective...

Taxation of Seconded Employees

Posted by CA Varsha Nanwani 02 September 2019 12821 Views

Secondment of employees, as a concept, has evolved in the era of global commercial mobility.Secondment is where an employee of one organization is working for o...

All changes in new ITR Forms AY 2019-20 with snapshots

Posted by Prerna Saraogi 31 August 2019 78762 Views

The all new Income Tax Return Forms for AY 2019-20 have been released. The ITR forms ITR-1 and ITR-4 have also been made available for e-filing.

Angel Tax : Implication on Startup Ecosystem

Posted by Karan Sahi 31 August 2019 5551 Views

IntroductionAngel tax means the tax payable by unlisted companies during the raising of capital wherein the share price exceeds the fair market price of the sha...

How to respond to simple notice received from income tax department

Posted by CA Sandeep Bhatnagar 29 August 2019 11064 Views

Generally, when you file your return, a notice-cum-intimation is sent under Section 143(1) of the Income Tax Act, 1961. You may not respond to this notice, as i...

Demystifing angel tax for startups

Posted by Lisha Bansal 28 August 2019 6291 Views

Angel tax was introduced by the UPA government finance minister, Pranab Mukherjee, in 2012 to fight against money laundering. Startups are majorly funded by fri...

How to form a non-profit organization- Trust/Society/Section 8 company

Posted by Tarun Kumar Madaan 26 August 2019 15773 Views

Charity means giving something to those in needs without expectation or wanting something back in return. It is doing something good to others without expectati...

Important points under the Banning of Unregulated Deposit Schemes Ordinance, 2019

Posted by Naveen Jain 25 August 2019 14504 Views

The Govt passed the Ordinance on 21st Feb, 2019 to ban unregulated deposits. Ma

Assessment of Partnership Firms under income tax act,1961

Posted by PUSHP KUMAR SAHU 24 August 2019 12495 Views

Assessment of Partnership Firms under income tax act,1961 In this article we will deal with the assessment of firms with one brief example,First question is Wha...