Tax Gyan - The Makeyourtax Blog

ITR 6 – Tax Return for companies

The month of September has started and yet another due date is fast approaching. This date is 30th September for Companies registered in India.  All Companies registered in India except companies claiming exemption under section 11(those companies whose property are held for charitable or religious purpose) are required to file their income tax returns in ITR-6. …

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FAQs on Tax Deducted at Source (TDS)

In this content we will answer some frequently asked questions on TDS. Following are the some of the FAQs which would be handy for understanding TDS.   Q. What is TDS? In simple words TDS means Tax Deducted at Source. It is one of the methods of collection of taxes. This concept was introduced to collect …

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Imprisonment with fine to Income Tax Inspector in Bribe Case

FOUR YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 1.50 LAKH TO THEN INSPECTOR OF INCOME TAX IN A BRIBERY CASE The Special Judge, CBI Cases, Patiala House Courts, New Delhi has convicted Sh. Jai Prakash, then Inspector, Income Tax Department, Delhi and sentenced him to undergo four years rigorous imprisonment with fine of Rs. 1.50 …

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5 Common mistakes in the Income Tax Return filing to avoid

Be cautious while filing of Income Tax Returns. Even a small mistake in your return may result into a notice from Department. When returns are assessed every minute detail if wrongly entered may put you in between different notices and if no proper reply given to any such notices then you may encounter a series …

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