Income Tax Articles


Investment Options for Saving Tax

Posted by Neethi V. Kannanth 25 February 2022 6744 Views

As we are marching towards the end of the F.Y. 2021-22, it’s time to make a few last-minute investments to save taxes. Here are some of the options available to you as mentioned in this article.



How Will Russia's Invasion of Ukraine Affect Taxes & Trade in India?

Posted by Mayank Mohanka 25 February 2022 9047 Views

As I am penning down this piece, the market capitalisation worth Rs. 13.4 lakhs crores have already been eroded with BSE index plunging by 2700 points and NSE index tanking by 815 points, on account of Russia’s launching of a special military operation cum all-out invasion by land, air and sea of Ukraine on 24.2.2022.



Updated Return- Advantages and Disadvantages

Posted by CA Umesh Sharma 25 February 2022 5247 Views

Government is trying to provide an opportunity to taxpayers to disclose their income which was previously omitted to be disclosed, and on the other hand will also generate additional revenue for the government. It will facilitate ease of compliance to the taxpayer in a litigation free environment.



Calculation of taxable and non-taxable interests under EPF/GPF accounts

Posted by FCS Deepak Pratap Singh 24 February 2022 4883 Views

The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable.



Unsuccessful Appeal Submissions Turned into Explanatory Memorandum to Finance Bill!!

Posted by Mayank Mohanka 24 February 2022 3362 Views

Let us analyse some of these budget amendments proposed in the Finance Bill, 2022, aimed at overturning the well-known and established judgements



Best Judgment Assessment and Income Escaping Assessment

Posted by Neethi V. Kannanth 18 February 2022 8591 Views

Best Judgment Assessment under section 144



Sec 35DD: Amalgamation/Demerger expenses will be allowed to resulting company

Posted by FCS Deepak Pratap Singh 17 February 2022 6227 Views

The ruling of Delhi High Court will be much-needed support to the corporate world. This will help smooth restructuring of companies and claiming of restructuring expenses



Self Assessment and Enquiry Before Assessment under Income Tax

Posted by Neethi V. Kannanth 16 February 2022 4725 Views

The assessee is required to assess his income and determine if any tax is payable on the basis of return required to be furnished under section 115WD, 115WH, 139 142, 148, 153A or 158BC



Summary Assessment and Regular Assessment under Income Tax

Posted by Neethi V. Kannanth 15 February 2022 8231 Views

When a return of income has been filed by the assessee under section 139(1) or in response to a notice issued under section 142(1), the return shall be processed in the following manner



Housing Loans & EMI's Business

Posted by CA Ranganatha Achar K 14 February 2022 3881 Views

Now just imagine that he has taken a 2 or 3 bedroom house by outright Purchase /Buying it from a developer and let us assume that he has taken a loan of Rs 50 lakhs at various scenarios given below @7% Rate of interest on a floating basis as explained




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