In view of the situation arising due to COVID-19 pandemic and extended lock down period in the country, Ministry of Corporate Affairs has extended PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RE-SUBMISSION OF FORMS.
Sr....
Before the introduction of S. 270A, Section 271(1)(c) of the Income Tax Act was in place being penalty on concealment of income and or furnishing inaccurate particulars of income. However this section always caused...
During the Budget 2020, Finance Minister proposed changes in the criteria for determining residential status for Non Residents Indians for tax purpose. On March 23, 2020, the proposal was accepted in Lok Sabha with...
Meaning of related party
So what does the term ‘Related Party’ mean.? How important this is to companies and individuals. What are the conditions to be recorded or understood before any transaction takes place? When...
The Finance Minister Ms. Nirmala Sitharaman, in the press release held on 13.05.2020 announced various relaxations in respect to deadlines and due dates under Income tax return filing, Tax Audit, Vivad se Vishwas scheme...
Section 44AB of Income Tax Act contains provisions pertaining to the tax audit under the Income Tax Audit. Tax audit refers to the independent verification of the books of accounts of the assessee form...
This article focuses on
provisions of The Income Tax Act, 1961 and rules made there under relating to
Set Off and Carry Forward of Losses.
Adjusting of income under one head
against the loss under another head is...