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Showing posts from January, 2016

Even if the agricultural land is taken on lease, it would yied Agricultural Income...Readable format accessible at http://ssrpn.com/article-details.php?id=1380

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Issues in taxation of Bonus & splitting of Shares

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An attempt to clarify the taxability of one of the most common prevailing practice of doing investment in FDR in joint name ...

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Income tax department acting tough against the Non filers

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TAX TALK-11.01.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA Chartered Accountant
Income tax department acting tough against the Non filers
Query 1] I have following queries: 1.My friend is not paying any tax though his income exceeds the basic exemption limit. He hasn't done any investment in PF or LIC& doesn't file return. So, how would the income tax departments would come to know about the tax escape? Even if the Income tax dept. comes to know about this, then whether he would be liable to pay the tax along with penalty for the full year in which he escaped? Please Advice. 2.One of my friend is running an advocate legal consulting firm. I want to ask whether he is required to file 2 returns i.e., one for his own name & for other in name of the firm? Also I want to ask that which ITR should he filed? 3.I know that we can get deduction with regard to tuition fees paid under section 80C. I want to know for which kind of tuition fees, we can claim deduction? please advice.[adi…

E-filing would easily track the cases of wrong filing of Form 15G/15H. Casualness would mean prosecution proceeding.Readable format accessible at http://ssrpn.com/article-details.php?id=1352

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