5 Things About Tax Clearance Certificates Every Expatriate Should Know about ?

tax clearance certificate

Many expatriates who may be working for foreign company in India or may be on deputation to India are required to seek tax clearance certificate (TCC) from Income Tax Authorities before leaving India. The law for obtaining the tax clearance certificate was even for Indian residents , but now they require to give merely a declaration in prescribed form. Section 230 of the Income … [Read more...]

No Penalty u/s 271B Possible in Three Circumstances !

Penalty u/s 271B

Penalty u/s 271B of the Income Tax Act is imposed for not complying with the provision of tax audit under section 44AB of the I.T.Act. Now , it is generally known that incomeĀ  tax law provides u/s 44AB that certain persons earning income will have to not only mention books of accounts , but also get his/its books audited by a chartered accountant if the turnover or gross … [Read more...]

Noticed Error in Tax Return After the Assessment ? Here is What to Do.


Personal experience suggest that many a time , assesseeĀ  or the tax practitioner realises that there was an error in computation or some error somewhere which come to notice after scrutiny assessment is over. Most of the time , the revenue authorities refuse to entertain such cases on the ground that since the error was of assessee , the order passed by the assessing officer is … [Read more...]

Section 264 : Revision of other orders.

Revision of other orders.264. (1) In the case of any order35 other than an order to which section 263 applies passed by an authority subordinate to him, the Principal Commissioner or Commissioner may, either of his own motion or on an application by the assessee for revision, call for the record of any proceeding under this Act in which any such order has been passed and … [Read more...]

No Attachment Proceeding u/s 226 Possible if Debtor Disputes Debts !


When there is tax demand against a tax payer, the provision under section 226 of the Income Tax Act empowers the assessing officer as well as Tax Recovery Officer to initiate attachment or garnishee proceeding against the assessee . So , if someone owes money to the tax payer against whom there is tax due, the A.O or TRO can attach the amount of debt to the extent of the demand … [Read more...]