Income Tax Articles

Peak Credit and telescoping theories under income tax

Amit Bajaj 17 January 2012 at 12:19

There may be some cases under Income Tax Assessment proceedings where there are a large number of unexplained credit and debit enteries of a person standing in books of account of an assessee. In such case the AO may tend to add all the aggre

Why is Insurance Mis-Sold in India?

Prof. Bajaj 16 January 2012 at 12:23

Come on !! If you are a really good friend of mine, you ought to buy a life insurance policy from me Sounds Familiar ?? How many times we keep hearing this argument from a close friend (?) or a relative to buy an insurance policy fro

Time-Time ki Baat hai : Part-I

Prof. Bajaj 13 January 2012 at 12:35

I have seen the world Son!! Not for nothing I have these gray hair said Mr. Anand Desai, 56 Years old businessman to his son Niraj Desai, 28 years old professional working with a leading IT company. No Dad, I am also a post-gra

Things you didn't Know about PPF!

Prof. Bajaj 10 January 2012 at 14:27

Its the HR mail again. I need to do my tax savings now and submit the proofs. Said Monisha, a 26 years old Software professional to her colleagues Akshay and Neha. Neha: Me too !! Where should I invest ?? Monisha: Of course PP

Understanding income from house property with latest case laws

Manish Kumar Agarwal 10 January 2012 at 14:24

UNDERSTANDING INCOME FROM HOUSE PROPERTY WITH LATEST CASE LAWS : In this article, we will discuss recent decisions of various courts & tribunals in respect of income from house property which will enable us better understanding of the subject an

It's the way we look at it!

Prof. Bajaj 05 January 2012 at 13:19

Who can be wiser than me? I had purchased a land for Rs. 12 Lakhs in 1996. I recently sold it for Rs. 1.12 Crore. This is what I called wealth creation. And this is possible only in real estate. Said Dinesh, a 38 year old businessman

Tedious TDS - Practical Issues

Niraj Mahajan 05 January 2012 at 13:18

Tedious Deduction Scheme Practical Issues In business parlance these days, the word TDS has become synonymous with tedious. The deductor and the deductees who are the affected parties in these transactions are having a to

Dematting of MF units : Should you go for it?

Prof. Bajaj 31 December 2011 at 14:06

Life has become so easy after the share trading has started in demat form , Said Romesh Acharya, a 32 year old marketing professional, working with a leading FMCG Company. I am wondering if I should also demat the mutual fund

Critical Analysis of Section 201(1A) of Income Tax Act

CA Mudit Agarwal PGDFM,MCP,IFR 26 December 2011 at 11:32

In section 201 of the Income-tax Act, for sub-section (1A), the following sub-section shall be substituted with effect from the 1st day of July, 2010, namely: (1A) Without prejudice to the provisions of sub-section (1), if any such p

Why Isn't My Money Growing?

Prof. Bajaj 26 December 2011 at 11:32

This is ridiculous !! I have been saving and investing since last 10 years now. Still the growth I can see in my money is not even peanuts!! said Anurag Srivastav, a 37 year old Senior Executive working with a renowned FMCG Company.