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...
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.&...
All - about Liaison Office of a Foreign Company in IndiaLiaison office acts a channel of communication /facilitator of trade between the foreign parent company and the market in India. It promote import/export and also f...
Writ PetitionsEach State has a High Court. High Courts have been granted powers to issue writs. The Writ is an order or process issued by court or judicial Officers, asking person to perform or refrain from performing an...
Prosecution for Failure to pay tax to the credit of Central government under Chapter XII-D or XVII-B [Section 276B of the Income Tax Act, 1961]Section 276B of the Act, standing as on date and introduced with effect from ...
Dividend Stripping [Section 94(7)]What is Dividend StrippingDividend stripping is the practice of buying shares a short period before a dividend is declared, called cum-dividend, and then selling them when they go e...