Section 271A : Failure to keep, maintain or retain books of account, documents, etc.

Failure to keep, maintain or retain books of account, documents, etc. 271A. Without prejudice to the provisions of section 271, if any person fails to...
export declaration

No Need for Export Declaration in Softex or Any Form by Professionals !

It is generally understood that as per Foreign Exchange Management (Export of goods and services) Regulations, 2000 , export declaration  to Reserve Bank of...
PAN

PAN Applicant to Show Original Documents From 3rd Feb 2014

UPDATE : Please read Proposal for Checking Original Documents of PAN Applicant Dropped ! CBDT has issued circular by which now the Permanent Account number...

Section 56 : Income from other sources

Income from other sources. 56. (1) Income of every kind which is not to be excluded from the total income under this Act shall be...
Accumulation of Income

9 Rules For Accumulation of Income by Charitable Trust !

A charitable trust gets income from the property held for wholly charitable or religious purpose and also as voluntary contribution u/s 12 of the...

Section 234A :Interest for defaults in furnishing return of income.

Interest for defaults in furnishing return of income. 234A. (1) Where the return of income for any assessment year under sub- section (1) or sub-section...
online_payment

How to Solve 8 Online Tax Payment Errors !

The error is inevitable and therefore the tax payment online , which is now a rule , also may have lots of errors. While the...

How to Use Loss on Long Term Listed Share to Reduce Taxable Income !

The tax planning method suggested in this post applies in certain types of situations .Say , a you hold  many listed shares for more than 12...

Educational Institutes : When Can Its Income Tax Free !

Perhaps everyone knows that the income of educational institutes are tax free. But what few people know is that the tax exemption to educational school or institutions...
search & seizure

Search & Seizure : 7 Things Everyone Should Know !

Search and seizure power to income tax authorities are provided under section 132 of the Income Tax Act. The power is vested under certain...
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