Recently Asked Questions on Aadhaar Q.1 Is it possible to link Mobile Number with Aadhaar through OTP? What is the procedure to link Mobile Number with Aadhaar? Ans: As per DOT Directive, some Telecom Operators have started linking of SIM with Aadhaar via OTP based authentication. To know more about the process, please contact your […]
Briefly the facts of the case are that no PAN and ITR has been filed in this case. The case was selected for scrutiny on the basis of AIR Information regarding cash deposits in S.B. account by assessee without quoting PAN numbers in the A.Y. under appeal.
The Constitution Bench of the Supreme Court on the 4th of July, 2018 settled the law with regard to allocation of legislative and executive powers between the elected Delhi Government and the Central Government alongwith the administrator of the Union Territory of Delhi – the Lieutenant Governor.
As all of us are aware that Real Estate sector has grown very much in the recent years but has largely been unregulated from the prospective of protection of consumers. For resolving all the issues the Government of India has introduced Real Estate (Regulation and Development) Act 2016 and all the sections of the Act have come into force with effect from May 1, 2017.
IBC is still evolving legislation. There are many ordinances and amendments in IBC since its enactment. There are views in favor and in against of these changes in code. But, I made these write up limited only to Sec 29A of the Code.
Meaning of allowance Allowance is generally defined as fixed quantity of money or other substance given regularly in addition to salary for the purpose of meeting some particular requirement connected with the services rendered by the employee or as compensation for unusual conditions. It is fixed, pre-determined and given irrespective of actual expenditure Under income […]
Sukanya Samriddhi Account Account may be opened with a minimum initial deposit of two hundred and fifty rupees and thereafter any amount in multiples of two hundred and fifty rupees may be deposited in an Account subject to the condition that a minimum of two hundred and fifty rupees shall be made as deposit in a […]
Taxation on salary is the vital area which should be known not only by the employer but also the employee should be aware about this area. Section.192 of the Income tax act is crucial section under TDS which deals with the TDS deduction on Salary.
Every financial year, taxpayers look for legal ways to protect their savings and minimise tax liability. The pressure to keep up with the costs of living, the skyrocketing property rates or the ever-increasing health care costs in India, fuels the need to save on tax even further. Besides methods such as house rent allowance, saving […]
Waiver of loan for acquiring capital assets could not be taxed as perquisites under section 28(iv) since receipts were in the nature of cash or money. Section 41(1) of the Income Tax Act does not apply since waiver of loan does not amount to cessation of trading liability. It is a matter of record that the assessee had not claimed any deduction under section 36(1)(iii) of the IT Act qua the payment of interest in any previous year.
