Income 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 MoreIncome Tax
Rent 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
Read MoreTaxpayers can approach Advance ruling on Tax liabilities on deals above Rs 100 cr
The Central Board of Direct Taxes (CBDT) has notified that resident taxpayers who plan transactions valuing Rs 100 crore or above can approach
Read MoreLoss Incurred in Illegal Business is allowed as Deduction- HC Gujrat
By way of this Tax Appeal, the appellant has challenged the judgment and order dated 29.01.2004 passed by the Income
Read MoreDisallowance from Business/Profession income a Practical Approach
Sections 40, 40A and 43B provide the list of expenses which are specifically disallowed while computing income chargeable to tax
Read MorePENALTIES OF INCOME TAX IN TABULAR FORM [AY 2014–15 & AY 2015–16]
Section Nature of default Penalty leviable 1 2 3 140A(3) Failure to pay wholly or partly— (a) self-assessment tax/fringe benefit
Read MoreDeduction of tax at source from payment on transfer of certain immovable property Applicable for the Assessment Year 2014–15 and 2015–16
1 Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to
Read More