Articles by Amit Bajaj
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Filing income tax return after due date
The due date for filing income tax return for corporate aseessees and other aseessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in force is 30th September and for others it is
Provisions of Section 269SS and 269T under Income Tax Act
Provisions of Section 269SS and 269T under Income Tax Act Finance is the important part and need of every business. The own capital of a person may not be always sufficient to meet the needs of finance of the business. Therefore the Loans and depo
Compulsory maintenece of books of accounts under IT Act
It is generally seen that there is confusion among taxpayers about maintenance of books of accounts under Income Tax Act like who is required compulsorly to maintain the books of accounts and for how many years one has to keep his books of accounts.
CAPITAL GAINS UNDER INCOME TAX ACT 1961
Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is l
Some Views on Penal Provisions u/s 29(8) of MVAT Act
It is well esteblished principle that the power to levy penality under taxation laws is incidental and ancillary to the power of collection of tax and is provided to make sure the compliance of tax deposits by the assessees. Taxation laws are welfar
SURVEY UNDER SECTION 133 A OF INCOME TAX ACT 1961
Survey in a wider sense means to scrutinize or to inspect. The power of survey under the Income tax Act has been provided U/S 133A and 133B. The provisions contained in section 133A are independent and to the exclusion of the other provisons of the a
Use of section 144A
Assesements under Income Tax Act 1961 are made U/S 143, 144, 147, 153. The criterias for selection of cases for scrutiny has been increased.
Reassessement under Income Tax Act
The power of assessement or reassessement of any income chargable to tax that have escaped assessement has been provided under secton 147 r w s 148 of Income Tax Act of 1961.If the assessing officer has the reason to believe that any income charga
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