Are you planning to take home loans in the near future? If so, we suggest you to do some homework. If you see the advertisements of various banks and Non-Banking Financial Companies (NBFC), they highlight the interest rate on home loans. But according to us, there are many more …

  In our earlier article Selection of Income Tax returns for scrutiny during the Financial Year 2014-15, we had mentioned basis of selection of income tax scrutiny. In the article we have mentioned that one of the methods of selection of scrutiny is Computer Aided Scrutiny Selection (CASS). In our …

  The Ministry of Corporate Affairs vide its circular No 40/2014 dtd 15.10.2014 has extended the due date for filing the Forms under Company law Settlement Scheme 2014 for filing the backlog Annual Return forms from 15th October 2014 to 15th November 2014.   This extension has been given by …

  At the end of every financial year, many tax payers rush towards making investments to minimize taxes, without adequate knowledge of the various available options. The Income tax Act offers many deduction under section 80C to reduce tax liability substantially for the salaried individuals Viz. LIP, PPF, Housing Loan, …

  Considering the consecutive holidays owing to the festive season and weekend during the first week in the month of October, 2014, the Central Board of Direct Taxes has issued an order to extend the last date of deposit of tax deducted at source/tax collected at source during the month …

  Our PM is good in coining catchy names and also in giving different meanings to abbreviations. Earlier, when he won as the CM of Gujarat, he said he will be CM forever. (CM means Common Man). Now, today (25th September 2014) while launching the ‘Make in India’ program he …

  Let me start with an example. Suppose, in a large company like Infosys, TCS or Reliance (where over 125000 people are employed), if Finance and Accounts, Security and company matters are given to one individual to manage and supervise, will he be able to deliver? Can you even think …

  The CBDT vide Order [F.No.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to November 30, 2014. However, the CBDT had not extended the due date for filing of the Income-tax Return (‘ITR’). Consequently, many taxpayers were facing difficulty in filing of ITR without …

There are various tax saving investment options available to an individual to save tax u/s 80C of the Income Tax Act. One of the best ways to grow money along with saving tax is to invest in Equity linked Savings Scheme. Generally people rush to make tax-saving investments at the …

  The Income Tax Act has prescribed rules for set-off loss arising from one head against other heads of income as well as carry forward of loss to the subsequent years. In our earlier quiz ‘Test your knowledge on Set Off and Carry forward of Losses‘, you have tested your …