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The appeal procedure under Income Tax Act

Different levels of appeal under income tax act 1961

In general parlance, ‘appeal’ means ‘making a request’ and in legal parlance, it means ‘apply to a higher court for a reversal of the decision of a lower court’. In this article I have covered the levels of appeal under Income Tax Act. Hope this helps.   In India, the ...

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New Tax accounting standards for business

Income computation and disclosure standard

In order to bring clarity on taxation issues, the government has notified new tax accounting standards relating to income computation and disclosures by businesses.   The assesses for the purposes of computation of income chargeable to income-tax under the head “Profit and gains of business or profession” or “Income from ...

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8 things to know about TDS provisions


  Indian Income Tax Act has prescribed many tedious procedures for tax compliance. Deduction and payment of Tax (TDS) is one among them. This article lists out some of the vital points of TDS matters.   What is TDS?   Tax deduction at source means the tax required to be ...

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Service Tax registration procedure and documentation required with effect from 1st March 2015

Step by step procedure for service tax registration

  The Department of Revenue has released Order NO.1/2015 dated 28th February, 2015 mentioning the documentation, time limits and procedure with respect to filing of registration applications for single premises, which shall come into effect from 1-3-2015.   A. General Procedure   Online filing: Applicants seeking registration for single premises ...

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13 things to know about payment of Service Tax

Basics of service tax

  Service Tax has to be collected and remitted to the government at regular intervals as per the applicable rules. Delayed payment of service tax attracts interest and penalty. Some of the vital points on payment of service tax are listed below. Hope this helps.   Payment of Service Tax ...

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7 Tax changes applicable from 1st April 2015

changes under Income tax, Service Tax, and Karnataka State Tax Laws with effect from 1st April 2015

  The following are the important changes under Central and State Tax Laws with effect from 1st April 2015   Conveyance Allowance – Transport allowance (popularly known as conveyance allowance) granted to an employee to meet his expenditure for the purpose of commuting between the place of his residence and ...

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