There is always a dispute in respect of capital & revenue receipt & expenditure. Let’s clarify the same with the help of some of the latest judicial decisions in this […]
All posts by Lavish Dey - 247. page
Professional Tax Consultant and Article Writer
How get another copy (reprint ) of PAN card lost ?
Losing one’s PAN card is very common problem and equally true is the importance of PAN card in our day to day life. So , a person really feel anxiety […]
Download Latest Justification Report Utility Ver.(2.1) – TRACES
Recently TRACES has released a new version (2.1) of Excel Generation utility for Justification report from “TXT” to “XLS”. Download and use latest utility version for Justification report requests but, […]
What is an AOP i.e Association of Person under Income Tax Act ?
AOP or Association of Person is defined as a person under section 2(31)(v ) of the Income Tax Act . However, what is an Association of Person itself is not […]
Understanding disallowances of expenses under section 37 of the Income tax act, 1961- Part-III.
Development of Software : Expenditure incurred on development of various software packages for being sold is revenue expenditure. Refer, Opus Software Solutions Ltd. v. ACIT, 139 ITD 427 (Pune)(Trib.). When […]
Business & Corporate Gifts
Gifts! Corporate Gifts have over the years proved to be an effective marketing tool for organizations across products and services. Organizations understand the importance of building and maintaining long term […]
Understanding Income from Other Source with Latest Case Laws
Any income which does not fall under the heads of Salary, House Property, Business & Profession and Capital Gain will fall under the head Income from Other Source. Hence, this […]
UNDERSTANDING DISALLOWANCE UNDER SECTION 40 OF INCOME TAX ACT, 1961 WITH LATEST CASE LAWS.
Now a days, assesse’s are facing number of dis allowance under various clauses of section 40 of the act by the Income tax officials. These issues were handled with due […]
UNDERSTANDING TAXATION OF TRUST IN INDIA.
India follows the English concept of a trust as a vehicle under which property is alienated from the original owners and held by a trustee for the benefit of others. […]
Scrutiny Notice u/s 143(2): What Should I do?
Scrutiny Notice u/s 143(2): What Should I do?Reviewed by Admin on Sep 2.Rating: How to Handle a Scrutiny notice u/s 143(2) The Notice u/s 143(2) is popularly known as income […]