Faceless Penalty Scheme, 2021With the objectives to promote digitalization, achieve greater degree of efficiency and transparency at the Income Tax department level while dealing with taxpayers enabling provisi...
Revival of Struck Off Companies for the purposes of Income Tax proceedingsFor revival of a Company an appeal / petition / application can be filed by a person who is affected by such strike off of the company to the Nati...
Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects [Section 44BBB]Section 44BBB provides that, notwithstanding an...
Mandatory filing of return of income under section 139(1) in certain casesIt is mandatory for every taxpayer to communicate the details of his income to the Income Tax Department. These details are to be furnished in the...
Power of Central Government to exempt classes of persons from the requirement of furnishing a return of income [Section 139(1C)]Section 139(1C) of the Income Tax Act, 1961 provides that Central Government may e...
Benefits available under Startup India SchemeIntroductionStartup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. In or...
“Service of Notice by Post” under Income Tax LawIssue and service of statutory notices forms an important part of all the proceedings under the Income-tax Act. The proceedings are initiated by issue of proper notice ...
Consideration for the purpose of computing accumulation of income of 15% – i.e. Gross receipts or gross receipts after expenditure for charitable purpose i.e., the net receiptsThe question that for the purposes of sect...
Power to Call for Information under section 133(6) of Income Tax Act, 1961 § Section 133(6) of the Income Tax Act enables the Income Tax Authorities to compel Banks and other Authorities to furnish...
Taxation of Seafarer in IndiaThe taxability of salary received by a seafarer is based on the residential status of the seafarer. The salary received by a resident seafarer will be taxable as per the Income Tax law.&...