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The word “issue” is very significant for tax payers because the Assessing Officers have powers to issue notice u/s 148 of the Income Tax Act for reassessment of total income , if he has reasons to believe that any income has escaped assessment.The time limit for issue of notice is given in section 149 of...
It is routine in the Income Tax Department that cases of valuation of properties are referred to valuation cell , who many times send a report based on which A.O initiates proceeding u/s 147 of the I T Act.Many of thsoe actions were subjected to judicial scrutiny and the result is that most courts ,...
Capital gains exemption u/s 54 provides relief to a tax payer who gets gains on account of sale of … [Read More...]
Deduction u/s 80E of the Income Tax Act is allowed to individuals who takes education loans for … [Read More...]
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