Simplified Laws Guide to Taxation and Legal Concern

  It is not a typo error. There is no word called ‘complifying’ in the dictionary. I have combined two words complicating & simplifying into ‘complifying’. I am confused by the acts of Government. They speak a lot about simplifying the Acts by repealing or amending age-old Acts. But when …

  Section 14A of the Income Tax Act, 1961 provides for disallowance of expenditure incurred in relation to exempt income. The Section empowers the Assessing Officer if, having regard to the accounts of the Company, he is not satisfied with correctness of amount disallowed by the Company under this Section. …

  Wherever possible, avoid cash transactions. There are draconian provisions under Income Tax Act which may hurt your peace of mind! Read this article to know more about it.   Firstly – Are you an income taxpayer? If yes, you are not allowed to accept Loan, Deposit, Repay loan/deposit by …