Don't Worry , Be Happy !
Goa Chamber of Commerce and Industry (GCCI), as well as the chapter of institute of chartered accountants, made a representation to income tax department pointed out that the departmental software which processes the income tax return does not differentiate between taxpayers governed under Section 5A of the Income Tax Act and those that are not.Thus [...]
Indian Express has done it again.Off course , in this regard Tehalka was first to publish few names of those Indians whose names were handed over by German authorities . Now , the list is published in Indian Express along with the demand raised by income tax department. The money was stashed in LGT Bank [...]
First look on the newly notified income tax form ITR-1 for Asst Yr 2011-12 which is named Sahaj (means easy) shows that there is an inadvertent mistake . D19 field of the form tells taxpayer to fill “Exempt income only for reporting purpose (From Dividend,Agriculture Income “ . However it says that it should be [...]
In a recent judgement the Delhi High Court in case of Commissioner of Income Tax vs Coca Cola Beverages Pvt Ltd , the Court pronounced on 14th, January, 2011 that ‘depreciation can be charged even on an intangible asset like goodwill, as it is a form of a commercial right and is used to carry [...]
Media widely reported today that income tax department has rejected the claimed of Shahrukh Khan of receipt of gift of villa worth Rs 17 Crore from a Dubai based company. Shahrukh Khan , had in its return claimed , that the said gift was tax free . An interesting poll on the issue is being [...]
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [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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