Monthly Archives: March 2016

Falling in Interest rate

Falling in Interest rate Interest and return on investments (For e.g. Fixed Deposit, Property and other investment tools) are continuously falling. But on the other hand, The return i.e. interest rate on Public Provident Fund, Kisan Vikas Patra, National Saving Scheme, Senior Citizen Saving Scheme is quite higher as compared to other market investment options.

Daughters right in ancestral property

Daughters right in ancestral property The first question after the Supreme Court recent ruling in Prakash & Ors v. Phulavati & Ors, rendered on 16 October 2015 comes to everyone’s mind is whether the Supreme Court is right in giving the ruling or not, but what matters now is not whether the Supreme Court is […]

Service tax assessees to file annual return

Service tax assessees to file annual return Although, with the government resorting to implement unified taxation regime GST in near future, it was hoped that the number of returns to be filed by an assessee would reduce substantially and this has been done in case of Central Excise Assessees which is highly appreciated by the […]

Income tax department has started sending notices to non-filers for the assessment year 2013-14 & onwards

Income tax department has started sending notices to non-filers for the assessment year 2013-14 & onwards Income tax department has started sending notices to non-filers for the assessment year 2013-14 & onwards & are also using the said information to verify under-reporting of income

Presumptive Taxation of Business: Analysis of Amendments

Presumptive Taxation of Business: Analysis of Amendments Section 44AD widely affects the businesses in small sector. It was brought in its present shape by Finance Act 2009 wef AY 2011-12. It implies that legislature at that time thought it fit to take a year extra to have impact study of the section. However section 44AD […]