Knowledge Base @ Tax Management


Advance Payment Of Tax [ Sections 207 To 219]

The following are the salient features of the procedure regarding advance tax.


(a)      Where advance tax is payable, the assessee individual shall himself compute the advance tax payable on his current income at the rates in force in the financial year and deposit the same whether or not he has been earlier assessed.



Arrears Of Tax And Recovery Thereof

Any amount, otherwise than by way of advance tax specified as payable in a notice of demand under Section 156 shall be paid within 30 days of the service of the notice at the place and to the person mentioned in the notice. However,


Pre-Requisite For Claiming Income Tax Refund

For claiming income tax refund the first prerequisite is that there should have been excess tax paid or deducted at source on the basis of return of income. The second prerequisite is that the income-tax return should be filed along with the prescribed Form No. 30. For ready reference, the said Form No. 30 is reproduced on the next page.


Business Man Vrs. Union Budget 2014-2015

Economy has slowed down with a fall of 8 % in the overall growth rate, which is due to the global economic downtrend. Looking at the present scenario Chidambaram’s main emphasis went on bringing foreign investment in the country. Near about $75 billion will be needed to finance the present gap in accounts and that will take the next two years.
Impact of Budget 2014 on Women of India

Budget 2013 has brought many laws for the benefits of women power in the economy. So, you must know what budget 2013 provides you and how you got benefit from it. The entire economy has slowed down with a fall of 8 % in the overall growth rate, which is due to the global economic downtrend.

The Union Budget 2014 that Affects Professionals

This year the budget was not as amusing as it was speculated. The budget did not affect people to a large extent. It only gave and took in small extent making the demand and supply at equal level.

Tax Planning Tips for A.Y. 2014-15

Tax planning has always been the test of efficiency for people along with being a test of their cunningness such that they can save their taxes in a lawful manner. Here are some of the tips that can help you to plan your taxes for the A. Y. 2013-14.

Tax Planning @ Senior Citizens (A.Y. 2014-15 and A.Y. 2013-14)

Tax Planning for  Senior Citizens A.Y. 2014-15 and A.Y. 2013-14: The category of senior citizens has been under the purview of income tax from a very long time. However, there has been certain relief that has been provided to them when it comes to imposing taxes on their income

Tax Planning @ Women Assessee (A.Y.2013-14 & A.Y.2014-15)

The Indian Taxation Structure is designed in such a manner that it promotes protection of the minor groups along with maintaining equilibrium in operations. The tax payer is mainly allocated into three major forms which involve Men,

Tax Saving Schemes 2015-16

Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below.

Sec. 143(3) : Scrutiny Assessments by Income Tax Department
“Penalties” Under Income Tax Act. 1956
How is a Search Operation Conducted by Income Tax Department ?
Surveys for Checking Ostentatious Expenditure
Surveys for Enforcing Compliance with Provisions of TDS
“Summon” U/s 131 of Income Tax Act.
Investigation by Income Tax Department:
Appellate Authorities of Income Tax Department
Power to Call for Information U/s Sec. 133(6) of Income Tax Act.
Specific Surveys U/s 133A(1) of Income Tax Act.
Types Of Income Subject To TDS [Deduction Of Tax At Source]
Pre-Requisite For Claiming Income Tax Refund
Benefits of Filing Income Tax Returnsn
Section-139(9): Defective Tax Return
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