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Articles: Income Tax Act 1961
Definition of words and phrases under the Income Tax Act, 1961   <<CLICK HERE TO READ ARTICLE

Argument that technically Black is absence of all colours hence it cannot be interpreted as a colour is not acceptable as ordinarily Black is understood to be a colour

Details of Various Legal Provisions- Digital Evidence   <<CLICK HERE TO READ ARTICLE

Details of Various Legal Provisions associated with Digital Evidence

Disclosure of information respecting assessees   <<CLICK HERE TO READ ARTICLE

Disclosure of information respecting assessees under the Income Tax Act, 1961


Provisions Specified Domestic Transactions

Expenses incurred to earn exempt income is not deductible   <<CLICK HERE TO READ ARTICLE

Chapter IV of the Income-tax Act, 1961 (the Act) deals with Computation of total income [section 14 to 59]. In computing total income various specified expenses are allowed by the Act including some provisions dealing with residuary expenses. Problems arise when an assessee deal with some income which is partly includible in total income and partly not. How to deal with composite expenses relatable to both category of income? How to deal with expenditure on income not includible in total income?   As the law was silent, various courts did not allow apportionment of expenditure artificially between taxable and non-taxable income by the revenue. To deal with this section 14A of the Act was inserted by the Finance Act, 2001 with retrospective effect from the date the Act came into force, i.e. 01/04/1962. 

Furnishing of Return of Income when - required/ not required/ not necessary   <<CLICK HERE TO READ ARTICLE

Furnishing of Return of Income when - required/not required /not necessary

How to identify AY from the date of effect of amended provisions   <<CLICK HERE TO READ ARTICLE

Whether there is any relevancy of assessment year to the amended provisions brought in from a date, if so, how to identify the relevant assessment year?

Latest Comments
» Thank you, Dada for the crisp and lucid article🙏
» "writ" written in a lucid form. Thanks
» Great, Dada u have special quality to see and explain about statutes. I am sure None of us knowing it with such details. Thanks.
» Very well written , keeping it simple yet highly informative. Thank You Sir...
» Dada has brought out the intricate details in such a lucid manner that interest of the reader to go further into the subject increases. Thank you Dada
» Dada ...a truly valuable article..thanks
» Dada aapko shat shat naman hai. Aapka varad hast hum par rahe aur asha hai aapke gyan bhandar sagar se hamko aise aur bhi lekh milte rahenge jisse ...
» Thanks Sir, Got new vision of rules how to interpret law.
» Great Dada. So lucid and to the point. It gives so much more clarity, especially to those who are working as assessing officers. One of the most ch...
» A great article indeed. Thanks a lot Dada.
» Dada, Minute details are also discussed in this article. Lot of thanks Dada. Mohan
» A very comprehensive information and clarification on very important issue. Thank you very much Sir
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» Great article Sir. Very helpful.
» Thanks Dada fir adding to our knowledge.A great article indeed
» Dada we have got another valuable article from your treasure of knowledge. We shall always be indebted to you.
» A person sold a land (Long Term Capital Asset) during F.Y. 2014-15 and purchased another land (Plot A) to build a residential house, complete sales...
» Whether investment in a plot will amount to investment in construction for the purpose of section 54F when no construction has been made
» I am speechless. Such a wonderful narration of the real plight of an assessing officer. Hats off to you sir.
» Dada, your explanation style is just superb and the topic choosen are also untouched by us. Sometimes we wonder why we did not see the things so de...