Black Money – Generation and avoidation Black money means to create funds by non payment of income taxes by way of : – 1. filing income tax return by showing low income . 2. Money earned through bribes and corruption by government employees,officer and politicians. 3. Commission earned through arranging government deals and purchase.
Is Second House Property – Create problem in Income Tax? Is any exemption/deduction is available in income from House Property liable to Tax?
Mandatory Pre Deposit – An Overview Finance Bill (No.2) 2014 has vide Clause 98 has proposed an amendment in Section 35F of Central Excise Act that the appeal against an Order passed by lower authorities will not be entertained unless the appellant has made a 7.5 per cent in case of first stage appeal or […]
VAT Dealer and Department-Maharashtra Vat Audit As the last date of submission of Maharashtra VAT Audit Report is 15th of January 2015. VAT Audit applies to whom? If the Annual Turnover is more than Rs. 2 Crore then the Taxpayer has to conduct VAT Audit compulsorily. This limit was Rs. 60 lakhs for Financial Year […]
Meaning of Calculation of Assessed Tax for the Interest under section 234B We regularly face situations where we are required to compute interest under section 234B of the IT Act, 1961 Whereas, the present scenario is that this interest calculation is automatically done in the income tax return (ITR) utility available on the web portal […]