Pre conditions for revision of other orders under section 264 by Principal Commissioner or CommissionerAn assessee aggrieved by an order passed by the Assessing Officer may file an appeal against the same to the CIT(A). ...
Applicability of Permanent Establishment (PE) in India and its impactIn October 2021, at an OECD-led meeting of 136 countries, it was agreed that there would be a global minimum corporate tax rate of 15 percent. The...
Representative Assessee [Section 160]Section 160 of the Income-tax Act, 1961 defines ‘representative assessee’. Sub-section (1) to this section enumerates five categories of representative assessees, which are as fol...
During Income-tax Search and Seizure - Rights and duties of Income Tax Department and Persons SearchedThe Income-tax Act gives very wide powers to an authorised officer to carry out the search and also to seize documents...
Roll of Authorised Officer during Income Tax SearchPower to carry out search under section 132 and survey under section 133A are important tools in the armoury of the Income–tax department for detecting and preventing ...
Write-off of Arrears of tax demandThe arrears of tax demand have gone up many folds and are piling up year after year, despite several provisions [Chapter XVII-D consisting of Sections 220 to 232 and second schedule of t...
Judicial Precedents in Tax ProceedingsJudicial precedents play a very important role in law-giving process. They occupy a big area of the law being administered in this country. Their importance lies in the fact that the...
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Admission of a new partner /Retirement from Partnership Firm - Taxability under the Income Tax Act, 1961Partnership firm is a very common method of doing business in India. The Income tax has recognized the Partnership f...
Statutory Notices under the Income Tax Act, 1961Statutory notices are an important part of all the proceedings under the Income-tax Act, 1961. The proceedings are initiated by issue of proper notice and valid servic...