CBDT asked to follow Vodafone ruling in similar cases
The Central Board of Direct Taxes (CBDT) asked its field formations on Thursday to not treat income arising out of
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Cost Inflation Index for Capital Gain Computation
Explanation (iii) to section 48 defines the term “indexed cost of acquisition” as the amount which bears to the cost
Read MoreExcessive Stock Statement Given to Bankers, Difference will be added to Income of the assessee
This appeal has been preferred by the assessee under Section 260A of the Income Tax Act, 1961. The High Court
Read MoreInterest on Housing loan can be claimed as Deduction from House property & also can be included in cost of Acquisition for Capital Gain simultaneously
Assessee claim deduction of Interest on Housing Loan upto Rs. 2 Lakh (from AY 2015–16) to acquire house property u/s
Read MoreCost of Furniture & Fittings are personal effects & not includible in cost of acquisition of house
In the case of Shri Sachinder Mohan Mehta v. ACIT (Delhi High Court), Appeal No. ITA 655/2014, Judgment delivered on
Read MoreIncome Tax e‑Filing Statistics
ITR Wise receipt of e‑Returns- December, 2014 S.No. Form FY 2012–13 (From 01/04/2012 to 31/03/2013) FY 2013–14 (From 01/04/2013 to 31/03/2014)
Read MoreRent received from mobile Tower which has been erected on the top at the building would be taxable under the head house property
ITAT Delhi held in the case of Manpreet Singh Vs. ITO, I.T.A. No.: 3976/Del/13 that Rent received from mobile Tower
Read MoreDelay in Tax Audit/ tax audit not done & Penalties Leviable
Tax audit is made compulsory u/s.44AB of the Income tax Act, 1961 for those a) carrying on business having sales, turnover
Read MoreIncome tax on Social media/Digital Firms likely from next year
On a great move India will start charging income tax on digital economy firms, such as Facebook, Twitter and Uber,
Read MoreCBDT chief to keep exclusive charge of Income Tax investigations
A major reshuffle has been effected in the CBDT, with the board’s Chairperson Anita Kapur deciding to assume exclusive charge of Income-Tax
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