In India, We take most of the laws/Rules as granted one & feel we are complying with rules without studying in depth of penalty provisions of law. Indian Income Tax Rules /sections are one of those laws. Most of the people feel or under impre
Re-assessment Provisions under the Income Tax, 1961 Re-assessment is assessing the income of the assessee that is already being assessed once and also any other income which comes to the notice of the AO subsequently during the Re-assessment proceed
Widening of the scope of power of Transfer Pricing Officer in context of Section 92CA of the Income Tax Act, 1961 An Analogous study In the last few years the Government of India has taken many steps in order to strengthen the Transfer Prici
History: CBDT had issued 2 circulars on 26th March 2013 relating to the selection of transfer pricing method to be adopted by Tax authorities for determination of Arms Length Price in case of research & Development units of MNCs lo
(2013) TaxCorp(LJ) 1412 (HC-KARNATKATA) S. 271(1)(c) - Merely because the assessee accepted addition or deletion and did not challenge the assessment order by way of appeal, it cannot be concluded that such addition or deletion amounts to concealmen
1. As per the provisions of section 44AB of the Income Tax Act, 1961, every person carrying a business whose turnover exceeds Rs. 1 Crore or carrying a profession whose receipts exceeds Rs. 25 Lacs in the finan
Special provision for computing profits and gains of business on presumptive basis For Assessment Year 2013-14. Section 44AD (1) of the Income tax act 1961 read as under (1) Notwithstanding anything to the contrary contained in sectio
Hello everyone we all face the common situation as to how to plan for the salary every year and how to reduce tax on it and increase our home take salary. Well the people from the Acco
Summary on Transfer Pricing 1) Introduction :- Transfer pricing was introduced basically to curb the tax evasion practices followed by many Multinational Groups having presence in India. These Multinational Groups normally transfer their taxable pr
Procedure to upload ITR and Form 3CB/3CD Based on Personal Experience 1) Firstly CHARTERED ACCOUNTANT has to register on Income Tax Site:- a) Steps to Register:-