Vide Finance Act 2017, certain other adjustments were allowed in processing of ITR, including in cases where income appearing in TDS certificate/ tax credit statement of a taxpayer, is not included in total income of the taxp
Budget 2018: With the Union Budget scheduled to be presented on February 1, all eyes are on the finance minister. The government should aim at making the Budget taxpayer friendly, straightforward and uncomplicated.
Since the Insolvency and Bankruptcy Code, 2016 came into effect for corporates last year, all three categories of applicants—financial creditors, operational creditors and corporate debtors began filing applications under t
With a limit of Rs 2.5 lakh per taxpayer, even the genuine taxpayer holding tax paid money is afraid of depositing his old currency notes, lest he faces tax scrutiny. It is important to understand that this limit of Rs 2.5 la
India-Mauritius tax treaty: The protocol signed between India and Mauritius on May 10, 2016, amending the DTAA brought closure to the complicated renegotiation attempts of the Indian Government which started as far back as 19
While share trading has grown significantly one needs to know how to treat the income earned from sale of shares. It is imperative to understand the classification of income, since the tax treatment of speculative gain, capit
Tax authorities in India have the power of initiating scrutiny assessment under section 143 (3) of the Income Tax Act 1961, if they have a reason to believe that the individual has filed incorrect particulars or suppressed hi