Simplified Laws Guide to Taxation and Legal Concern

In view of the non-intrusive information-driven approach for improving tax compliance and effective utilization of information in tax administration, it is important that the returns are filed within the due dates specified in section 139(1). Further, the reduced time limits proposed for making of assessment are also based on pre-requisite …

Existing provisions of section 58 of the Act, specify the amounts which are not deductible in computing the income under the head “Income from other sources” which include certain disallowances made in computation of income under the head “Profits and gains of business or profession”. These disallowances include disallowances such …

The existing provisions of section 153 specify time limit for completion of assessment, reassessment and re-computation of cases mentioned therein. In the effort to minimise human interface and move towards technology, massive computerisation has been carried out in the Department, which has translated into overall enhanced efficiency in the functioning …