Blog

06
Feb
2019
Sale of Shares is capital gain or business income ?
24
Jan
2019
Missed paying advance Tax ? You may get a Notice !!
05
Dec
2018
Loss from derivative is a normal business loss and not speculation loss
04
Dec
2018
It isn't mandatory for assessee to set off business loss against capital gains as per sec. 71
28
Jul
2018
Income Tax Notice in name of deceased
23
Jul
2018
GST Rate Changes
11
Jul
2018
Reduced Tax Litigations
12
Jun
2018
No sec. 54F relief if construction of new property took place prior to date of transfer of capital a

Benefit of deduction under section 54F in case of construction of residential house, is available only when construction is completed within a period of three years after date of transfer of long-term capital asset and, therefore, where construction took place prior to date of transfer, conditions of section 54F were not fulfilled and, consequently, assessee's claim for deduction was to be rejected

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30
Mar
2018
Finance Bill, 2018 assented to by President
21
Mar
2018
Revised Proforma for Income Tax Notice under the E-Assessment Regime

The concept of electronic assessment proceeding was introduced last year and its scope was gradually enlarged. The e-assessment proceeding is now facilitated through e-filing portal. The CBDT Instruction No. 01/2018, dated 12-02-2018 has mandated that except for search related assessments and exceptional circumstance mentioned therein all other pending scrutiny assessment cases shall be conducted only through the E-Proceedings functionality in ITBA/Efiling.

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17
Mar
2018
Sec 147 of Income Tax Act- Initiation of reassessment proceedings
16
Mar
2018
Levy of DDT on Deemed Dividend u/s 2(22)(e): Will it give rise to Double Taxation?

The Finance Bill 2018, has proposed to cover deemed dividend u/s 2(22)(e) of Income Tax Act, also for levy of dividend distribution tax @ 30%,in the hands of a closely held company paying such deemed dividends. As per the existing provisions in Finance Act, 2017, deemed dividends are taxable in the hands of recipient as income from other sources u/s 56 of Income Tax Act, at the applicable marginal rate of tax, and no dividend distribution tax is payable u/s 115-O, on such deemed dividends, by the payer company.

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03
Mar
2018
Useful Income Tax Case Laws / Order
13
Feb
2018
Things to Know About e-Assessments

As part of e-governance initiative to facilitate conduct of assessment proceedings electronically, Income-tax Dept. has launched 'E-Proceeding' facility. Under this initiative, CBDT has made it mandatory for the tax officers to take recourse of electronic communications for all limited and complete scrutiny. In June, 2017, CBDT had issued the formats for issuing a notice to the taxpayers for conducting the scrutiny assessments. Now, CBDT issues an instruction for conducting the scrutiny assessments electronically. As per the instruction, except search related assessments, all scrutiny assessments shall be conducted only through the 'E-Proceeding' functionality available at e-filing website of Income-tax Dept.

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