
In case of excess tax is paid, refund of the excess amount may be claimed by filing the income tax…
Late filing of income tax return shall attract a fee of Rs 5,000 if it is furnished on or before…
Q. I am an NRI. If I gift Rs 20 lakh to my major daughter in India and if she…
Mutual funds can be an ideal investment option for wealth creation. Let us have an in-depth look at the various…
In a bid to provide better services to taxpayers and ensure greater accountability and transparency in tax administration, CBDT has…
Given that gifts are a means of expressing affection, it is important to know the tax implications of such gifts…
If the company has not paid TDS and filed the quarterly TDS returns, the income tax department can issue you…
In such case, the asset will be seized by the tax authorities without physically taking the assets with them.
The E-assessment Scheme 2019 aims to eliminate human interface, reduce corruption and bring in transparency.
It may be recalled that the Income Tax Department had extended the PAN-Aadhaar linking deadline many times earlier also.
A taxpayer who does not have an e-filing account or a PAN will not be able to avail the facility…
Any HRA allowance granted to meet the expense incurred on payment of rent in respect of residential accommodation “occupied” by…
If the scrutiny order is prejudicial to the taxpayer, an opportunity would be provided to the taxpayer before issuance of…
Technical submissions filed as e-responses by taxpayers should be comprehensive, and logical in structure for easy absorption
A taxpayer is eligible to receive an income tax refund when excess taxes have been paid by him either through…
The Income Tax Act, 1961 has explicitly laid down the time limits for filing of original and revised tax returns…
The e-assessment Scheme 2019, however, would provide an opportunity to the assessee to seek a personal hearing but it would…
The scheme states that all communications between the National e-assessment Centre and the assessee, or his authorised representative, shall be…