income tax notice

Received a notice under Section 143(2)? Here’s what you should do

Many individual taxpayers would have received a notice from the Income Tax Department regarding Limited Scrutiny under Section 143(2). The notice reads: What the notice means is that the taxpayer’s income tax return for AY2015-16 has come under scrutiny for derivative (futures) transaction. The income tax department wants the taxpayer who has received this notice […]

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Does GST Apply to me

Does GST apply to me?

Our tax laws are preparing to go through a historic change. GST or Goods and Services Tax is being prepared to replace existing taxes such as VAT, service tax, excise duty and several local state taxes and levies. GST is expected to have a far reaching impact. Whether you run a business or provide a […]

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NRIs without PAN: How to avoid higher TDS?

Those who are unable to furnish PAN details have to face higher TDS rates. This also applies to NRIs, and foreign company, who must furnish PAN information or else TDS will be deducted at maximum rates. In a recent circular the income tax department has eased the rules for NRIs who don’t have PAN or […]

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