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Charging Prepayment Penalty on Home Loans Restricted By RBI
News & FAQs | By ALOK PATNIA | Last updated on Apr 19, 2012
RBI restricted in relation to charging prepayment penalty on home loans. Therefore, home loan customers will have greater flexibility to ...
Claim Rent Paid Deduction – 80GG
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
A person is living in a house and paying rent for the same. If he gets House Rent Allowance (HRA) then he gets exemption u/s 10(13A). But...
Understand Rent Free Accommodation and its taxability
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Perquisites are the nature of benefit or concession that employees receive from their employer in addition to the Salary. Some perquisi...
Who can use ITR 2 for online return filing ?
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The Income Tax Department has provided various Income Tax Forms for the assessees in order to file their return forms beneficially. The f...
IOC – Reduce excise duty or we hike petrol price by Rs 10/l
News & FAQs | By ALOK PATNIA | Last updated on Apr 18, 2012
Market leader Indian Oil Corporation indulged in grand standing on Tuesday by saying state-run retailers would raise petrol price by a...
No mechanically condonation of delay even if delay by Department in filing Appeal (Chief Post Mas...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The Government filed an appeal to challenge the judgement of the High Court. There was a delay of 427 days in filing the appeal which was...
Taxability of Motor Car Perquisites – Use and Transfer
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Perquisite is a part of gross salary of an individual provided by his employer in addition to the basic salary. It is the benefit ...
Compulsory online return filing from AY 2012-13
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Online filing of return is compulsory required by certain assessees. Â Online return filing can be done with or without digital signature...
Penalty leviable even if cash credits offered as income in ROI filed pursuant to sec 148 notice (...
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
The assessee filed a ROI offering Rs. 4.68 lakhs which was assessed. Subsequently, the AO issued a s. 148 notice claiming that cash credi...
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