Income Tax

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Income Tax Taxation

Income recognition norms for NPAs

Income recognition norms for NPAs

Financial institutions categorize loans and advances in default or arrears as non-performing assets (NPAs). Debt is in arrears when the principal or intere...

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Income Tax

Income Tax Deductions List – Deductions on Section 80...

Income Tax Deductions List

To encourage savings and investments, the Income Tax Department has provided various deductions from taxable income. The same is provided in Chapter VI A â...

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Income Tax

Aadhaar Card PAN Card Link Status: How to Check Aadhaar...

Aadhaar Card PAN Card Link Status

The Government of India 2011 revealed a new identity document formally known as the Aadhaar card and established a new agency, the Unique Identification Au...

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Income Tax

Bharati Shipyard Ltd. v. Deputy Commissioner of Income...

Bharati Shipyard Ltd. v. Deputy Commissioner of Income Tax

The ITAT Mumbai pronounced a landmark judgement in the case tilted Bharati Shipyard Ltd. v. Deputy Commissioner of Income Tax on 9th September 2011, which...

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Income Tax

Hewlett Packard India Ltd Vs Deputy Commissioner of Inc...

Hewlett Packard India Ltd Vs Deputy Commissioner of Income Tax

On 18th January 2023, the ITAT Bangalore pronounced an order in the case titled Hewlett Packard India Ltd Vs Deputy Commissioner of Income Tax wherein an a...

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Income Tax

Exemptions under Section 10 of the Income Tax Act

Exemptions under Section 10 of the Income Tax Act

The Government of India provides some exemptions for the reduction of the tax burden of the assessee. Section 10 of the Income Tax Act deals with those exe...

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Income Tax

Global Dimensions of Black Money

Global Dimensions of Black Money

The problem of tax evasion and the generation of Black Money isn't new. As far back as 1936, the Ayers Committee, while reviewing the Indian income tax adm...

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Income Tax

Section 234C: Interest for Deferment of Advance Tax...

Section 234C: Interest for Deferment of Advance Tax

Payment of Income Tax and the filing of income tax returns is the responsibility of every Indian citizen. It also helps in the recovery of the TDS Payments...

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