Category: Tax Cases
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Income Tax Department Notice for Non Compliance & Non Filing of Returns
If you have not filed Income return for last few years ( ie Previous year 2012-2013, 2011-2012, 2010-2011, and 2009-2010) then chances are that you might have received income tax notice from income tax department. Income Tax Department is collating information from various sources and is sending notice to non-filers of Income Tax return. If you have received […]
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How to Pay TDS on sale of Immovable property
TDS is applicable on sale of immovable property as per Finance Bill of 2013. Where the sale consideration of property is equal or exceeds to Rs. 50,00,000. According to Sec 194 IA, the Income Tax Act, 1961 TDS is applicable from from June 1, 2013 for sale of property exceeding Rs 50 lacs. At the time of making payment […]