Meaning of “Manufacture” for admissibility of Additional Depreciation

Everything about Annual Information Statement (AIS)

Avoiding Mistakes & errors while filing Income Tax Returns

Expenditure during trial run & Validity of its adjustment against trial run income

Prior Period Expenses: No deduction if there is no evidence that expenses had been crystallized during the year

CBIC launches online digital application for scheduling of examination of cargo for traders at ICD Tughlakabad, Delhi

Deduction towards Education Cess: Analysis and Impact of section 40(a)(ii)

Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs

Business deduction under section 35D towards Fees to ROC for increase in capital

Non-deduction of tax at source on the export commission and validity of disallowance under section 40(a)(i)

NRI selling Property in India: Taxation and Precaution

Investment of the deposits is also the part of the business activity & so interest or dividend income of credit society would be eligible for deduction under section 80P(2).

If books of account of the assessee is rejected by Assessing Officer, item-wise disallowance can not be done. It cannot be said that it shall be good for one purpose, and not for other.

Validity of addition done purely on basis of noting in diary impounded during survey without any corroborative evidence

Directors can’t be booked just because a company violated the law.

All about SFT codes in Annual Information Statement (AIS)

Post Income Tax Search and Seizure findings of incriminating material and undisclosed income cannot be pressed for supporting the authorization of an Income Tax Search- A Study

For business, no formal books of accounts required. Only compilation on the basis of bills/vouchers etc would be sufficient