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My Articles
| Interest on compensation on acquisition of land: Tax Complexity |
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TAX TALK-30.10.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Section 145A(b) provides that inter...
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| Taxation of F & O transactions |
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TAX TALK-23.10.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
The most crucial point arises with ...
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| Belated filed return can also be revised now |
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TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Error in income tax return forms can be corrected by filing a revis...
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| Merger, Demerger & Amalgamation- Tax implications on shareholder |
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TAX TALK-09.10.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
There is a tax conces...
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| An additional compliance of submitting estimated current Income & Advance tax payment |
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TAX TALK-02.10..2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Proposed amendment r...
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| Change in the base year from 1981 to 2001 is for all classes of assets |
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TAX TALK-02.10..2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
The change in the base...
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| Even small size firm are to get its accounts audited if income offered for taxation is less than 8% |
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TAX TALK-18.10.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Amendment so ...
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| NRI & taxation of mutual fund investments |
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NRI & taxation of mutual fund investments
Query 1]
My daughter purchased shares of Persistent Systems Ltd in 2009. She became NRI since ...
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| Tax benefit on donation to approved trust |
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TAX TALK
CA. NARESH JAKHOTIA
Advance tax Rules:
Calculation of advance tax purely involves estimation of tax li...
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| Unsold flats of builders attracts tax on notional basis |
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TAX TALK-28.08.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Notional taxation in the case...
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| Professionals excluded from maintaining accounts if offers 50% of receipt as income |
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The taxability of receipt depends upon the relationship between the payer and payee. If the employer / employee relationship exists then income would ...
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| Interest on Saving Bank account up to Rs. 10,000/- is eligible for deduction u/s 80TTA |
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sTAX TALK-14.08.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Section 80TTA ...
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| Payment for eviction of tenant is eligible for deduction |
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TAX TALK-07.08.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Capital gain is calculated by...
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| Payment for eviction of tenant is eligible for deduction |
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TAX TALK-07.08.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Capital gain is calculated by deducting the cost of acq...
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| Taxation of Alimony |
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TAX TALK-31.07.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
The j...
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| Quoting of PAN is mandatory if transaction value exceeds Rs. Rs. 2 Lakh |
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TAX TALK-24.07.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
There...
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| Income tax law incorporates numerous provisions to curb cash transactions. It will not only help in controlling black money generation but would also widen the tax base: Tax Talk |
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TAX TALK-17.07.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
New section 269ST is introd...
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| Invest in Gold through Gold Sovereign Bond |
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TAX TALK-10.07.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Investment in...
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| Income tax without actual income: Second house property |
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TAX TALK-03.07.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax treatment of the second...
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| Cost Inflation Index for the FY 2017-18 notified as “272†|
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TAX TALK-26.06.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Any taxpayer selling the ol...
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| ELSS income is totally tax free |
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TAX TALK-19.06.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Equity Linked Savings Scheme (ELSS)...
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| Proper documentations & planning could lower tax incidence |
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TAX TALK-12.06.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
U/s 56(2)(x), if anyone purchases a...
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| Issues in taxation of capital gain |
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TAX TALK-05.06.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
For exemption u/s 54, investment of...
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| No SFT to be filed if there is no reportable transaction |
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TAX TALK-29.05.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
To curb circu...
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| File Statement of Financial Transactions (SFT) by 31st May 2017 |
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TAX TALK-22.05.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
File Statement of Financial Transacti...
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| I-T department is very efficiently capturing & analyzing the data |
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TAX TALK-15.05.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
I-T department is very efficiently ca...
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| LTCG exemption will be withdrawn if the new house is transferred within 3 years |
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TAX TALK-08.05.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
LTCG exemption will be withdr...
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| Even cash deposited in new currency is required to be reported in new ITR |
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TAX TALK-01.05.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Even cash deposited in new cu...
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| Ownership of House property & Deduction on Housing Loan |
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TAX TALK-24.04.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Ownership of House property & Ded...
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| Surgical strike on cash- accepting cash of Rs. 2 Lakh and more is an offence now- Section 269ST |
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Surgical strike on cash- accepting cash of Rs. 2 Lakh and more is an offence now- Section 269ST
CA. Naresh Jakhotia- Chartered Accountant
...
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| Tax issues in Joint Development agreement signed before 01/04/2017 |
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FINAL
TAX TALK-17.04.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax issues in Joint De...
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| All about tax benefit on Education Loan |
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TAX TALK-10.04.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
All about tax benefit on Education Lo...
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| Without actual income also, Income tax can be levied:Tax Talk |
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TAX TALK-03.04.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
No Income- No Tax is not the law
&nb...
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| Promoting affordable housing scheme by tax sops to builders & developers |
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TAX TALK-27.03.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Promoting affordable housing scheme b...
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| Tax Relief to the property owners signing Joint Development Agreement |
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TAX TALK-20.03.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax Relief to the property owners sig...
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| Revision in the base year would result in tax saving |
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TAX TALK-13.03.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Revision in the base year would...
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| How to comply with the Non-filers Monitoring System (NMS) notices |
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TAX TALK-06.03.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
How to comply with the Non-filers Mon...
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| Tax deduction on education loan taken for higher studies |
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TAX TALK-27.02.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax deduction on education loan taken...
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| Second house property: Income tax without actual income |
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TAX TALK-20.02.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Second house property: Income tax wit...
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| Income tax is not always on real Income |
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TAX TALK-13.02.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Income tax is not always on real Inco...
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| Keep proper records & documents of expenses for claiming deduction |
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TAX TALK-06.02.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Keep proper records & documents o...
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| New retail investors are eligible for tax benefit u/s 80CCG |
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TAX TALK-30.01.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
New retail investors are elig...
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| TDS ON PAYMENT TO CONTRACTORS AND SUB-CONTRACTORS UNDER SECTION 194C AN OVERVEIW |
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TDS ON PAYMENT TO CONTRACTORS AND SUB-CONTRACTORS UNDER SECTION 194C AN OVERVEIW
By Reema Agrawal
– Article Assistant
- SSRPN &a...
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| Tax implications on relinquishment deed amongst family members |
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TAX TALK-23.01.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax implications on relinquishment de...
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| Medical expense on cancer & tax deduction |
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TAX TALK-16.01.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Medical exp...
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| Claim Tax Credit on Foreign Income of a Resident |
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TAX TALK-09.01.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Claim Tax Credit on Foreign Income of...
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| Senior citizens are exempt from payment of advance tax |
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TAX TALK-02.01.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Senior citizens are exempt from pay...
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| Senior citizens are exempt from payment of advance tax |
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TAX TALK-02.02.2017-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Senior citizens are exempt from payme...
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| Investment in 5 years fixed deposits also offers tax benefit |
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TAX TALK-26.12.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Investment in 5 y...
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| Service tax on under construction property |
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Service tax on under construction property
Ku. Neelam Kabra -
Article Assistant
-SSRPN & CO
Law & its interpr...
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| No tax on receipt of accidental death claim |
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TAX TALK-19.12.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
No tax on receipt of accidental death...
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| Purchase of rural agricultural land below stamp duty value is not liable for notional taxation |
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TAX TALK-12.12.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Purchase of rural agricultura...
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| Pradhan Mantri Garib Kalyan Yojna- 2016: Last call to come clean |
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TAX TALK-05.12.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Pradhan Mantri Garib Kalyan Yojna- 20...
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| Even self employed person can claim deduction towards rent of house property |
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X TALK-28.11.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Even self employed person can c...
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| Write up on the controversial issue- whether penalty @ 200% leviable for unaccounted cash deposit: Tax Talk Dated 21.11.2016 |
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TAX TALK-21.11.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Whether 200% penalty levi...
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| Demonetization of money & income tax |
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TAX TALK-14.11.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
&nb...
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| Keep proper records & documents of expenditure incurred on property for claiming deduction |
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TAX TALK-07.11.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Keep proper records & documents of ...
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| Whether two adjacent flats can be regarded as “One †house property |
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TAX TALK-24.10.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Whether two adjacent flats can be reg...
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| Categorization of shares income decides its taxability |
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TAX TALK-17.10.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Categorization of shares inco...
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| Exchange of property results in capital gain tax liability |
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TAX TALK-10.10.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Exchange of property results in capit...
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| CBDT amends format of 3CD Report wef 01.04.2017 |
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CBDT amends format of 3CD Report wef 01.04.2017
In the Income-tax Rules, 1962, in Appendix II , in Form No. 3CD, in Part-B, in claus...
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| NRI can continue making deposit in the existing PPF account |
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TAX TALK-03.10.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
NRI can continue making deposit in th...
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| Issues in Capital gain taxation |
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TAX TALK-26.09.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Issues in Capital gain taxation
&nbs...
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| How to invest in National Pension Scheme (NPS) |
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TAX TALK-19.09.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
How to invest in National Pen...
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| Seller should obtain PAN if bill amount exceeds Rs. 2 Lakh |
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TAX TALK-12.09.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Seller should obtain PAN if bill amou...
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| Claim income tax refund for the last 6 years or carry forward the loss even if return is not filed |
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TAX TALK-05.09.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Claim income tax refund for the last 6 ...
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| Taxpayers are entitled to get interest on income tax refund |
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TAX TALK-29.08.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Taxpayers are entitled to get interest ...
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| Sukanya Samriddhi Account: New scheme for a Girl Child In India |
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TAX TALK-22.08.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Sukanya Samriddhi Account: New scheme...
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| Pay as you earn - Advance Tax |
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TAX TALK-01.08.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Pay as you earn - Advance Tax
...
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| Capital gain on transaction by Power of Attorney (POA) |
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TAX TALK-25.07.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Capital gain on transaction by Power ...
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| Medical expenses offers tax benefit |
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TAX TALK-18.07.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
M...
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| Save additional tax by investing in NPS |
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TAX TALK-11.07.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Save additional tax by investing in N...
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| Disclose exempt income while filing ITR |
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eTAX TALK-04.07.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Disclose exempt income while filing ...
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| Residential status vs. Taxability of Income |
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TAX TALK-27.06.06.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Residential status vs. Taxability of Inc...
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| Residential status vs. Taxability of Income |
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TAX TALK-27.06.06.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Residential status vs. Taxability of Inc...
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| Joint development agreement & capital gain tax |
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TAX TALK-20.06.06.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Joint development agreement & capita...
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| Know clubbing provision before gifting to wife |
|
Know clubbing provision before gifting to wife
TAX TALK-13.06.06.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Charte...
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| Not all proceeds from Life Insurance policies are tax free |
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TAX TALK-06.06..2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Not all proceeds from Life Insurance polic...
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| Court recongnised the concept of accountability- A judgement by Bombay High Court |
|
~~Larsen & Toubro Limited vs. UOI (Bombay High Court)
Reluctance of AOs to comply with binding Court judgements leads to negative reactions amo...
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| No excuse, Purchasing property below stamp duty valuation is taxable |
|
~~TAX TALK-30.05.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
No excuse, Purchasing property ...
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| Tax treatment of gratuity received by LIC agent |
|
TAX TALK-23.05.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax treatment of gratuity received by LIC a...
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| CBDT has revised the due date for filing TDS Return (TCS returns filing date unchanged) |
|
The CBDT vide Notification No. 30/2016 [F.NO.142/29/2015-TPL], Dated 29-4-2016 has revised the du...
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| Intricacies in Columns of revised Form No. 15G & 15H |
|
TAX TALK-16.05.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Intricacies in Columns of revised Form No. ...
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| Capital gain exemption if Construction is done on the plot owned by spouse |
|
~~TAX TALK-09.05.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Capital gain exemption if Const...
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| Eligible Start-up - 100% Tax Holiday for 3 years |
|
TAX TALK-02.05.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Query 1]
Start up India ...
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| The difference between tax avoidance and tax evasion is the thickness of a prison wall. Tax Talk - My weekly column |
|
...
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| Non filers may take the benefit of Income Disclosure Scheme-2016 |
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TAX TALK-25.04.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Non filers may take the benefit of Income D...
Continue Reading... |
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| Scholarship received to meet the cost of education is tax free |
|
TAX TALK-18.04.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Scholarship received to meet the cost of ed...
Continue Reading... |
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| New option for saving Long Term Capital Gain Tax |
|
TAX TALK-04.04.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
New option for saving Long Term Capital Gai...
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| Tax deduction towards medical treatment & maintenance of a dependant with disability |
|
TAX TALK-28.03.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Tax deduction towards medical treatment &am...
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| Profit arising from sale of property & Tax saving options |
|
TAX TALK-21.03.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Profit arising from sale of property & ...
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| Medical reimbursement for treatment in approved private hospital is tax free |
|
TAX TALK-14.03.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Medical reimbursement for treatment in appr...
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| Minor’s income is not subject to clubbing provision in the hands of the Grandfather or Grandmother |
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TAX TALK-07.03.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Minor’s income is not subject to club...
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| Reduce the tax liability on arrears of salary by claiming relief u/s 89 |
|
TAX TALK-29.02.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Reduce the tax liability on arrears of salary by ...
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| Avail additional tax bonanza by investing Rs. 50,000/- in National Pension Scheme (NPS) |
|
Avail the Tax Bonanza by investing Rs. 50,000/- in NPS
CA Naresh Jakhotia
One of the biggest tax saving bonanza by th...
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| Not actual rent, House property is taxable on the basis of its Annual Value |
|
TAX TALK-22.02.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Not actual rent, House property is taxable ...
Continue Reading... |
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| File the return in time to enjoy the benefit of carry forward of loss |
|
TAX TALK-15.02.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
File the return in time to enjoy the benefit of c...
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| Beware, there is a penalty for property transactions in cash |
|
TAX TALK-08.02.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Beware, there is a penalty for property transacti...
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| Ownership of land is not a pre-requisite for having agricultural income |
|
TAX TALK-01.02.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Ownership of land is not a pre-requisite for havi...
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| Issues in taxation of Bonus & splitting of Shares |
|
TAX TALK-25.01.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Issues in taxation of Bonus & splitting of Sh...
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| Taxability in case of Joint Bank FDR |
|
TAX TALK-18.01.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Taxability in case of Joint Bank FDR
Que...
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| Income tax department acting tough against the Non filers |
|
TAX TALK-11.01.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Income tax department acting tough against the No...
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| New PAN Quoting requirement |
|
...
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| Avoid casualness in submission of Form No.15G/15H |
|
TAX TALK-04.01.2016-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Avoid casualness in submission of Form No.15G/15H...
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| Avail tax benefit if living in a rented premises |
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TAX TALK-28.12.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Avail tax benefit if living in a rented premises
&...
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| Age has special privileges in the Income Tax Law |
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TAX TALK-21.12.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Age has special privileges in the Income Tax Law
...
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| Income Tax may be payable even if there is no actual income |
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TAX TALK-14.12.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Income Tax may be payable even if there...
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| Housing loan & tax treatment of pre-construction period interest |
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TAX TALK-07.12.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Housing loan & tax treatment of pre-construction pe...
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| How to get Income tax refund speedily? |
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TAX TALK-30.11.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
How to get Income tax refund speedily?
Query 1]
Kin...
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| How to deal with the notice received for non filing of income tax return ? |
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...
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| How to deal with the notice received for non filing of income tax return |
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See the word file attached along with the mail for viewing the Images incorporated in the Column.
TAX TALK-23.11.2015-THE HITAVADA
...
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| Whether gift from relatives are really tax exempt? |
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See the file attached for the Charts incorporated in the Presentation
TAX TALK-16.11.2015-THE HITAVADA
TAX TALK
CA. NARES...
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| Death doesn’t absolve the person from tax liability |
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TAX TALK-09.11.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Death doesn’t absolve the per...
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| How long should I keep my income tax records? |
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TAX TALK-02.11.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
How long should I keep my income ta...
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| Taxation of income from delivery based / intra-day share trading and F & O Transactions |
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TAX TALK-26.10.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Taxation of income from delivery based / in...
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| Senior Citizen Saving Scheme- An investment cum tax saving option for senior citizen |
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TAX TALK-26.10.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Senior Citizen Saving Scheme- An invest...
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| Holding more than one PAN card |
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TAX TALK-12.10.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Holding more than one PAN card
...
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| Income tax return can be filed for 6 assessment years to claim TDS Refund |
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TAX TALK-05.10.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Income tax return can be filed for 6 as...
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| TDS credit can be claimed even if it is not deposited by the Deductor |
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TAX TALK-28.09.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
TDS credit can be claimed even if it is...
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| CBDT told to extend the date of filing return !! Strictures passed against CBDT !! |
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All Gujarat Federation Of Tax Consultants vs. CBDT (Gujarat High Court)
Strictures passed against CBDT for being lax and delaying issuing...
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| Do understand Clubbing provision before making Gift - A family route to save tax |
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TAX TALK-21.09.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Do understand Clubbing provision before...
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| Scratch cards & Lottery schemes are subject to Tax Deduction at Source |
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TAX TALK-14.09.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Scratch cards & Lottery schemes are...
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| Assessee with Multiple businesses & Applicability of Tax Audit limit of Rs. 1 Crore |
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TAX TALK-07.09.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Assessee with Multiple businesses &...
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| Compulsory manual selection of cases for scrutiny during the Financial Year 2015-2016 |
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Compulsory manual selection of cases for scrutiny during the Financial Year 205-2016
To
Government of India
Ministry of Finance
...
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| REGISTRATION IN GST (Proposed): |
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Registration in GST
REGISTRATION IN GST (Proposed)
Registration No can be PAN based followed by alphabets, numerals etc. (Eg. 10...
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| Interest on Housing loan shall be restricted to Rs. 30,000/- if construction not completed within 3 years |
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TAX TALK-31.08.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Interest on Housing loan shall be...
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| CM's wife case : Penalty for violation of section 269SS - Reasonable cause u/s 273B |
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I-T - Relief for UP Chief Minister's wife - Whether genuinity of loan transaction can be doubted merely on ground of its acceptance in cash, when ...
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| NON PAYMENT OF TDS ATTRACTS PROSECUTION |
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TAX TALK
NON PAYMENT OF TDS ATTRACTS PROSECUTION
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
...
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| Interest on NPAs and Stick Loans, even if accrued as per the mercantile system of accounting, is not taxable as per prudential norms |
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Interest on NPAs and Stick Loans, even if accrued as per the mercantile system of accounting, is not taxable as per prudential norms
CIT vs. Deogir...
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| S. 115JB: Amount towards waiver of loan under OTSS, credited to "General Reserves" and not to the P&L Account cannot be added to "book profits" |
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S. 115JB: Amount towards waiver of loan under OTSS, credited to "General Reserves" and not to the P&L Account cannot be added to "b...
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| S. 115JB: Dept’s grievance that if amount is not credited to P&L A/c, accounts are not correctly prepared as per Schedule VI to the Companies Act, 1956 and adjustment to book profits can be made is not acceptable if auditors and ROC have not found fault |
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CIT vs. Forever Diamonds Pvt. Ltd (Bombay High Court)
COURT:
Bombay High Court
CORAM:
M. S. Sanklecha J...
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| Failure to deduct taxes or wrong deduction of TDS |
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Failure to deduct taxes or wrong deduction of TDS (non deposit, short deposit or late deposit):
Default/ Failure
Section
&nb...
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| S. 234B interest is automatic if conditions are met. Form I.T.N.S. 150 is a part of the assessment order and it is sufficient if the levy of interest is stated there |
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CIT vs. Bhagat Construction Co. Pvt. Ltd (Supreme Court)
COURT:
Supreme Court
CORAM:
A.K. Sikri J.,&nbs...
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| Scope of Section 2(15)- In Favor of Assessee |
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IT : Where motive of assessee is not generation of profit but to provide training to needy women in order to equip or train them and make them self-co...
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| INVESTMENT IN PLOT IS ELIGIBLE FOR CAPITAL GAIN EXEMPTION |
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TAX TALK-17.08.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
INVESTMENT IN PLOT IS ELIGIBLE FOR CA...
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| Section 271(1)(c) provides that penalty can be only imposed if the authority was satisfied that any person had concealed particulars of his income or furnished inaccurate particulars of such income |
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COMMISSIONER OF INCOME TAX vs.DALIMA DYECHEM INDUSTRIES LTD.
HIGH COURT OF BOMBAY
- Penalty u/s 271(1)(c)—Levy of&mdash...
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| Bogus sales and purchases: Reliance on statement of supplier who confesses to providing accommodation entries without giving assessee right of cross-examination violates principles of natural justice and the addition has to be deleted in toto |
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ACIT vs. Tristar Jewellery Exports Pvt. Ltd (ITAT Mumbai)
COURT:
ITAT Mumbai
CORAM:
A. D. Jain (JM), Rajen...
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| IT : Deduction of TDS under wrong provision of law will not save assessee from disallowance u/s 40(a)(ia) |
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The ratio may be a case specific and may not sustain longer.
Further, if deduction rate is same in two sections, wrong mentioning of sectio...
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| I-T - Whether Sec 54F benefit is available to assessee when construction work though has started but is not yet complete in all respects within stipulated period |
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2015-TIOL-1841-HC-KAR-IT
CIT Vs B S Shanthakumari
I-T - Whether Sec 54F benefit is available to assessee when constructi...
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| Filing of appeal with complete knowledge of its fate by the Revenue only reflects the mischievous adamancy to attempt to mislead the Tribunal and waste the time of the Court and the officers concerned. |
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IT : Filing of appeal with complete knowledge of its fate by the Revenue only reflects the mischievous adamancy to attempt to mislead the Tribunal and...
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| Addition on account of cash credit- In favor of Assessee |
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DEPUTY COMMISSIONER OF INCOME TAX vs.VKA FINANCE & INVESTMENT CO.
AHMEDABAD TRIBUNAL
IIncome—Cash credits—
AO noticed a...
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| Penalty under section 271D not leviable where cash accepted to meet exigencies of business |
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Property transactions also added in section 269SS & 269T. Obviously, 271D importance would be rising day by day:
Commissioner of Income Tax v. ...
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| ITR FORMS: THE WAIT IS FINALLY OVER |
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TAX TALK-10.08.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
ITR FORMS: THE WAIT IS FINALLY OVER
...
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| NRI: Basic exemption limit cannot be reduced from LTCG |
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TAX TALK-03.08.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
NRI: Basic exemption limit cannot be ...
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| Deductor liable for penalty @ Rs. 100/- per day if TDS certificates are not downloaded |
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TAX TALK-27.07.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Deductor liable for penalty @ Rs. 100...
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| No tax audit required even if receipts by truck owner exceeds Rs. 1 Cr |
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TAX TALK-20.07.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
No tax audit required even if receipt...
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| Income from funds transferred to Wife attracts clubbing provision |
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TAX TALK-13.07.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Income from funds transferred to Wife...
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| Classification of income is important from tax planning perspective |
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TAX TALK-06.07.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Classification of income is important...
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| A step-by-step guide to file income tax return |
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TAX TALK-29.06.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
A step-by-step guide to file income t...
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| TDS has to be done while purchasing Urban Agricultural Land also |
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TAX TALK-30.03.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
TDS has to be done while purchasing Urban Agric...
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| Life Insurance Policies: No blanket escape from tax |
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TAX TALK-16.03.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
Life Insurance Policies: No blanket...
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| USING THE CONCEPT OF DIVERSION OF INCOME BY OVERRIDING TITLE |
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TAX TALK-09.03.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
USING THE CONCEPT OF DIVERSION OF INCOME BY OVE...
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| ALL ABOUT EDUCATION LOAN |
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ALL ABOUT EDUCATION LOAN:
Query ]
Is there any limitation of amount of deduction that is available against educational loan? I have availed the ed...
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| CO-OWNER MAY NOT BE TREATED AS OWNER: INTERESTING INCOME TAX |
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TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
CO-OWNER MAY NOT BE TREATED AS OWNER: INTERESTING INCOME TAX
Query 1]
...
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| TAX ISSUES ON ANCESTRAL AGRICULTURAL LAND |
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TAX TALK-23.02.2015-THE HITAVADA
TAX TALK
CA. NARESH JAKHOTIA
Chartered Accountant
TAX ISSUES ON SALE OF ANCESTRAL AGRICUL...
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| TWO PERSON WITH SAME INCOME MAY HAVE DIFFERENT TAX LIABILITIES !! |
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INTERESTING INCOME TAX
-CA NARESH JAKHOTIA
“EVEN IF TWO PEOPLE HAVE SAME INCOME, THE TAX AMOUNT COULD DIFFER”
&...
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| CAPITAL GAIN EXEMPTION ON SALE OF DEPRECIABLE ASSETS |
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INTERESTING INCOME TAX
-CA NARESH JAKHOTIA
DEPERECIABLE ASSETS U/S 50
AND EXEMPTION BENEFIT U/S 54EC/54F
A principal asked one of ...
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