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[...] in income from House Property liable to Tax? 1) Self-occupied House Property: According to Income Tax Act, One house can be treated as SOP and does not create any liability . Further if a loan has [...]

[...] Highlights of Proposed Changes in Union Budget ,2014 for Income Tax Laws Important announcements   on income tax: The proposals will become a law when Lok sabha [...]

[...] of India giving his assent and the Act been gazetted. Most of the tax provisions (Income Tax) shall come into force from first day of April, 2014, i.e., for the current financial [...]

[...] 30.11.2014 for A.Y. 2014-15. The order has nowhere mentioned about the due date for e-filing of Income tax Return (ITR). It seems due date for filing of ITR are been kept same. If the Assessee who are [...]

[...] When service tax paid by the assessee but considered as not payable and treat as deposit should be refunded [...]

[...] SERVICES PROVIDED BY RADIO TAXIS: Earlier, radio taxis were excluded from the purview of service tax by virtue of section 66D(o)(vi) of Finance Act,1994;However, in the Finance (No.2) Act, 2014, [...]

[...] No 12/2014-ST dated 11.7.2014, rate of interest to be charged on delayed payment of service tax has been enhanced w.e.f. 1.10.2014, based on period of delay. Thus, longer the delay period , [...]

[...] apply, mutatis mutandis, to service tax. a. Amended Provisions to apply to appeals filed after 06th August 2014 b. All pending appeals/ [...]

[...] in Form ITR-V; (iv) furnishing a bar-coded return in a paper form: Mandatory E-Filing of Income Tax Return E-filing of Income Tax return with digital signature is mandatory for Individuals, HUF and [...]

[...] As Soon as we filed a income tax return to the income tax authorities under section 139 of IT Act,1961 it has to be assessed  as [...]

[...] filing could mean having to let go of interest due on tax refund if any Importance of filing Income Tax return for various reasons: While processing for VISA, the embassy of the respective country [...]

[...] , the present scenario is that this interest calculation is automatically done in the income tax return (ITR) utility available on the web portal of the Indian Revenue Authorities (IRA), [...]

[...] Family (HUF) is treated as a separate entity for the purpose of assessment under the income tax Act and Wealth tax Act. HUF is automatically created after marriage as soon as child is born it [...]

[...] year. The total stay in India of the assessee is 177 Days. As per section 6 of the Income tax act, 1961 (hereinafter referred to as ‘act’), if any person stays in India for the period [...]

[...] multiple hits at a time.Through the website taxpayers will also allow to know about the Income tax Act , various notices,circulars will be issue from time to time and regular developments in the [...]

[...] year to decide that the person is Resident,NRI,or other one.because every year according to income tax act ,1961 his/her status may be change according the stay period in india.A person can be [...]

[...] For determining the taxability of the income residential status must be seen first. because the taxability of income depends upon the residential status of [...]

[...] will be applied to the case. TAXABILITY AS PER INDIAN DOMESTIC LAW Let us check the residential status of the assessee based on the taxability of income will have to be decided. Step 1: [...]

[...] Every taxpayers should be filed income tax returns in within due dates.it is not mean if you missed the due dates in any reason you will not [...]

[...] Finance Act well in advance, to avoid such situations it is further suggested that all Income tax returns and Audit reports forms must be notified well in advance by 1st April every year. [...]

[...] However Maximum tax payers has filed their income tax Returns till 31st July The deadline for filing Income tax returns. But Many miss out due to their [...]

[...] conditions for further processing. These specific conditions for manual selection of income tax returns during the financial-year 2014-2015 will include When ;– a. An addition in an earlier [...]

[...] in a financial year is covered by AIR (Annual Information Report) to be given by Bank to Income Tax Department. This is a self generated report submitted by Bank software.So it is very typical to [...]

[...] for which you want to file return.other wise Rs. Five Thousand can be charged by the income tax department as penalty from you. If you file your return late i.e. after due date you can not [...]

[...] taxpayers for easily filing and appling PAN card.The new version of the website of the Income Tax department will be act as a single window for all activities and online services offered by the I-T [...]

[...] not done by income tax authorities in all cases,it done for selective cases only The Income tax department selects many cases for the purpose of scrutiny. This is for a closer look to the details [...]