Coronavirus crisis is intensifying with each passing day. Till you get vaccinated masks seem to be the only effective way to protect oneself from the deadly virus. Wearing masks properly, maintaining social distancing and...
The Income Tax Department on 12th May,2021 said it has issued over Rs 17,061 crore of refunds to more than 13 lakh taxpayers so far this fiscal year.
Of this, personal income tax refunds worth...
Launched on 16th January 2016, the Startup India Initiative has rolled out several programs to support entrepreneurs, build a robust startup ecosystem, and transforming India into a country of job creators instead of job...
In view of the adverse circumstances arising due to the severe Covid-19 pandemic, the CBDT in exercise of its power under section 119 of the Income Tax Act, 1961 provided relaxation in respect of...
Ever heard of businessmen exploring the idea of using an asset on a rental basis on account of a shortage of finance to buy the asset.
In terms of finance, the term ‘Lease’ is defined...
Are you an applicant registered under Section 12A and 80G or Section 12AA? (i.e Trust/Societies/Hospitals, etc.). Then you need to obtain fresh registration in the prescribed format under Sec 10(23C) of the Act by...
Have you received any income tax notice so far? Are you the lucky one? or the unlucky one! If yes, next 5 minutes is worth investing your time. A notice issued on you does...
Penalty on Concealment of particulars of income or furnishing inaccurate particulars of income has always been a matter of litigation between the department and the assessee.
The scope of such provisions was always a subject...