Latest News -


Income Tax Return Form for FY 2014-15

Today we discuss on the Income Tax Form for FY 2014-15 and assessment year 2015-16. Government of India has notify the form for the income tax as per the income class. In this blog we will share the income tax return form to be filed by the HUF or Individual as per their nature of income.  We have describe all ... Read More »

Accounting entries relating to Tax deducted at source

Today we are going to discuss a simple & basic concept relating to accounting entries of Tax deducted at source on expenses & income. Most of people other than people from accounting background doesn’t know much about this. They always have some confusion about this. We are already discussed in our earlier post relating to TDS deduction limit, TDS rate ... Read More »

Form 3CA and Form 3CB in Tax Audit

Today we will discuss on the Form 3CA and Form 3CB in Tax Audit, Difference between the form 3CA and Form 3CB. An chartered accountant to an particular entity will issue the Form 3CA or Form 3CB report. Form 3CA & Annexure 3CD Form 3CB & Annexure 3CD Difference between Form 3CA and Form 3CB Form 3CA Form 3CA is ... Read More »

Guidance Note on Tax Audit 2016

Today we discuss on the guidance note on TAX Audit 2016 , in this blog we will discuss the important provision of income tax that is applicable to all the concern to be checked for conducting Tax audit  and what are the  audit procedure to be followed for conducting the tax audit. Steps to conduct the tax audit – First ... Read More »

How to determine Capital gain tax on Share

Now we are going to discuss on Capital gain tax on Share. Normal Person doesn’t now under which head the profit from purchase & sale of shares are taxed. Which type of profit is exempt & which type of Profit is taxable. In this post we are making discussion on Purchase & sale of listed equity shares. We are discussing ... Read More »

Tax planning for the month of March 2016

Today we discuss on the TAX Planning for the month of March 2016.  In Indian accounting the financial period will be from 1st April 2015  to 31st March 2016. Books of accounts should be closed on 31st March 2016 that’s why March 2016 is considered as the year end period.  As you all know  ‘To save the money is ultimately ... Read More »


Today we are discussing on how to handle income tax scrutiny of hawala party transaction.Income tax is issuing notice to the person who made a purchase from parties which are declared as Hawala Parties by Sales Tax Department and levied a penalty U/s 271(1)(c). If an assessee had made a purchase from party which is declared as hawala party by ... Read More »

Time Limit of Issuing TDS Certificate

Today we  are discussing on various Time Limit of Issuing TDS Certificate and filing  TDS Return. Form 16,16A & 27D are Certificates while Form 24Q, 26Q, 27Q & 27EQ are TDS/TCS statements. in that we are discuss on time limit of filing the TDS return, penalty for not filing the TDS return,time limit of generating TDS certificate ,penalty of not generating tds certificates on time. ... Read More »


Today we are discuss on income tax in India,  how income earned from business,salary,purchase and sale of property etc  is taxable in India. Different Heads of Income Tax in India as per Income Tax Act, 1961 There are five heads of income defined in Income Tax Act, 1961 under which income is taxable – Income from Salary Income From House ... Read More »


Today we are discussing on TAX SAVINGS TIPS FOR SALARY EMPLOYEE  As a salary employee is working hard for the organization, at the end of the month TDS will be deducted from his salary. There are not much more benefits available to the salary employee as available in business. We are sharing with you few tips for Tax Savings for ... Read More »