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Income Tax Return 2017

From 1st April 2017 onward, the Income Tax department has made easier for taxpayers to file Income Tax Return for salaried individuals. This year the Income Tax department had simplified the form filling process and for...

Income Tax Rate for AY 2015-2016/FY 2014-2015

I. For Individuals, Hindu Undivided Families, Association of Persons and Body of Individuals for AY 2015-2016/FY 2014-2015 Total Income Tax Rate Upto Rs. 250,000*           Nil 250,001 to 500,000        10% 500,001 to 10,00,000        20%...

Value added tax (VAT)

Value added tax (VAT) Introduction : The value added tax was introduced as an indirect tax into the Indian taxation system from 1 April 2005. The existing general sales tax laws were replaced with...

Income from services carried outside India

Where assessee, a Korea based company, received certain amount in pursuance of agreement entered into with an Indian company for carrying out certain activities within India and outside India, in absence of any material...

Refund of Income tax Updates

Hon’ble Delhi High Court vide its judgment in case Court On Its Own Motion v. UOI in W.P.(C) 2659/2012, dated 14.3.2013 has issued seven Mandamus for action by the Income Tax Department. One Mandamus...