Income Tax Articles
Interest and Remuneration paid or payable to partners under Sec 40B
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
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...
Demand Under Sec 143 (1) And Rectification
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 ...
5 Tips To Save Taxes From Your Retirement Money
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
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
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...
Duplicate PAN Card: How to apply for a Reprint of PAN card with Aadhaar
If you want to reprint your PAN card then visit official website and select the option for PAN reprint or duplicate request. Check out the full details here.
Penalty on delay of filing return on time
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
Extension of due dates, a tool of politics in India
Dear Friends,As an accountant in the industry, I realize that the main reason of extension of due dates of filing of tax returns in India almost every year is s...
Tax Audit of Assessee in Share Trading Business
Understanding is much deeper than knowledge. There are many people who know us, but very few who understand us.Life doesn't allow for us to go back and fix
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