PENALTY FOR CONCEALMENT OF INCOME - EFFECT OF DISALLOWANCE OF CLAIM No penalty on disallowance of capital gains if disclosure was made to identify investment and stock-in-trade Section 271(1)(c), read… Read More
NON RESIDENT INDIANS UNDER FEMA An Indian Citizen who stays abroad for (a) employment/ carrying on business or (b) vacation outside India or (c) stays abroad under circumstances indicating an… Read More
NEW CHANGES ON TDS: Section 192 (2D) – TDS on Salary: The person responsible for making the payment referred to in sub-section (1) shall, to estimate the income of the… Read More
Input Credit on Construction Services ITC ON SERVICES TAX RULE 2(l): Input Services “Input Service” means any service,- It is used by a provider of output service for providing an… Read More
India Liaison office management Foreign companies planning to set up their business operations in India need to start a liaison office. The main purpose of starting a liaison office is… Read More
ALL ABOUT INCOME-TAX ASSESSMENTS PROCEDURES, APPEALS & REVISION TIME FOR FILING RETURN OF INCOME [SEC. 139 (1)] Different Situations Due Date for filing Return 1. Where the assessee is a company… Read More
INCOME TAX SAVINGS THROUGH HOUSE PROPERTY Does your home, saving your income tax? Buying a house for self occupation can be biggest tax saving instrument. It saves your income tax… Read More
INCOME TAX CALCULATION – RESIDENTIAL STATUS Resident & Ordinary Resident Resident But not Ordinary Resident Non –Resident Residential Status of an Individual Based on the duration for which individual present… Read More
FAQ’s on Excise & its Registration Q1: What is Excise Duty? Excise duty is a tax which is charged on Manufacturer / Production of goods as well as from Importers… Read More
COMPLIANCES OF ONE PERSON COMPANY It was recommended in 2005, by the committee headed by Dr. JJ Irani. A one-person company is a company that has only one person its… Read More