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Income Tax Refund - Basic Concepts
Income Tax on Jun. 18, 2019If in any year, a person has paid taxes to the department in excess of the the income tax calculated in his return, the department returns the excess amount to the person after his return is processed. This excess amount is called income tax return.Income tax refund is defined under section 237 of the Income tax act.
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You got an assignment.
Others on Mar. 27, 2018Yes, you did. Just admit it. Thank you. This ripple is a day of your life, sort of a blog. But only you know you have secretly written this article to explain where to learn how companies increase their share capital at the same time. You understand what's going on. But who are you?
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ESOP payments held to be revenue expenditure as they were business purpose
Income Tax on Jun. 01, 2016During assessment, AO found that assessee had earned dividend income but in return of income had made no disallowance u/s 14A. AO made disallowance. Assessee claimed that ESOP payments made to its employees be treated as revenue expenditure. AO held them to be capital receipt. CIT(A) upheld the disallowance, and held ESOP payments as revenue expenditure. ITAT held that ESOP payments were for business purpose and concurred with CIT(A).-501414
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General Principles - Insurance Policies
Others on May. 23, 2017In this article, I have enclosed the general principles on which an insurance policy is based on.
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