Articles by Jatin Pal

Section 143 of the Income Tax Act

Posted by Jatin Pal 05 July 2025 1547 Views

Learn about the four major types of income-tax assessments under the Income-tax Act - Section 143(1) summary assessment, Section 143(3) scrutiny assessment, Section 144 best judgment assessment, and Section 147 income escaping assessment.

Key information about Dispute Resolution Commission

Posted by Jatin Pal 02 July 2025 218 Views

DRC focus mainly on small and medium taxpayers to resolve their tax disputes in a faceless, efficient, and taxpayer-friendly manner. DRC functions under Ministry of Finance, Government of India. 18 DRCs correspond exactly to the 18 Pr. CCIT regions

Compulsory Maintenance of Accounts - Section 44AA

Posted by Jatin Pal 28 June 2025 10456 Views

A question is, can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of Section 44AD?

RBI with powers allocated under section 35A

Posted by Jatin Pal 12 October 2023 3251 Views

Section 35A of Banking Regulation Act, 1949 gives power to RBI to give directions to Banking Companies or Banking Company, as the case may be. The Banking compa...

How Fiscal Deficit, Revenue Deficit and other key figures prepared for Budget 2022

Posted by Jatin Pal 07 February 2022 6751 Views

Total budgeted receipts are 39,44,909 crore out of which 56% is revenue receipts i.e revenue from tax and balance 46% is majorly from loans and borrowings. The percentage is higher than as compared to the figures related to the actuals of the financial year 2020-2021.