Income Tax Articles

Filing ITRs in India - For residents and non resident Indians (NRIs)

Posted by CA. Brijesh Baranwal 28 April 2019 7412 Views

INCOME TAX IN INDIAGovernment of India needs money for its expenses and development activities which is collected in the form of taxes and Income Tax is the big...

Interest and Remuneration paid or payable to partners under Sec 40B

Posted by VISHAL BANSAL 27 April 2019 25830 Views

Section 40(b) of Income Tax Act provides some specific conditions for payment of Remuneration includes salary, bonus, commission etc. and Interest paid to partners.

FAQs on Income Tax

Posted by CA. Brijesh Baranwal 27 April 2019 3845 Views

What is Income Tax?It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax Law are given in the Inc...

3 famous case laws that clarify how to identify a slump sale

Posted by Guest 25 April 2019 31542 Views

The concept of Slump Sale was introduced in the income tax law through section 2(42C) and section 50B in AY 2000-01 consequent to a ton of litigation and ambigu...

Demand Under Sec 143 (1) And Rectification

Posted by CA. Brijesh Baranwal 24 April 2019 5492 Views

DEMAND U/S 143(1) Attimes, income tax payers get intimation of demand from the Departmentu/s 143(1)/143(1A).Most of such cases are generated due to discrepancy ...

ITR 2019-20 : An Analysis of amendments and additional disclosure requirements

Posted by Padmanathan Kv 23 April 2019 19489 Views

CBDT has vide Notification No 32/2019-Income Tax Dated 01/04/2019 released the new ITR Forms for AY 2019-20. While there is no change in ITR-1 (SAHAJ) meant for...

5 Tips To Save Taxes From Your Retirement Money

Posted by Naina Kapoor 23 April 2019 7542 Views

All our lives we work to save enough money so that we can have a prosperous retirement and do not have to worry about our old age. Those who are entitled to pen...

Power sector deduction under section 80IA, IT Act

Posted by Sandeep Rawat 13 April 2019 8832 Views

Deductions in respect of profits and gains from undertakings or enterprises engaged in infrastructure development, Power undertakings etc. [Section 80-IA] POW

Applicability of section 56(2)(viia) on Buy back of shares

Posted by CA Nirmit Sharma 06 April 2019 16722 Views

Vora Financials Vs ACIT ITAT Mumbai BenchBrief facts of the case: M/s Vora Financials Services Private Limited (assesse) is engaged in the business of trading i...

Penalty on delay of filing return on time

Posted by Ramawatar Garodia 06 April 2019 14473 Views

Sec.234F, introduced w.e.f. 01.04.2018 has been intorduced to levy a "late fee" of Rs,5000/- if a person fails to file Return as required u/s 139, wit