Brief Features of Black Money Bill
the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 has been introduced in the Parliament on 20.03.2015. The Bill
Read MoreIncome Tax
Pending Income tax Refunds may got postponed to next year
Processing, determination, issuance and encashment of income-tax refund claims is a continuous process and therefore a part of the outstanding
Read MoreTDS to be deducted from Transporter U/s 194C- Applicable from 1st June, 2015
It is Proposed in Finance Budget 2015 that Under the existing provisions of section 194C of the Act payment to
Read MorePayment/Receipt in excess of Rs. 20000/- to be made in DD/Cheque/E‑Transfer on Sale/Purchase of Immovable Property
In order to reduce dealings of cash in immovable property transactions it is proposed to amend section 269SS and section 269T of
Read MoreTRANSPORT ALLOWANCE DOUBLED FROM Rs.800 to Rs.1600
Transport Allowance for individual salaried employees has been doubled to Rs 1,600 per month from the existing Rs 800 per
Read MoreCBDT 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
Read MoreCost 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
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