#incometax

AMT Basics: A Guide for Taxpayers

Alternate Minimum Tax (AMT) To encourage investment, the Indian government offers tax benefits to reduce individual tax burdens. However, consistent tax revenue is essential for funding development and public services. To ensure minimum tax collection...

CAN THE CASE BE REOPENED AFTER THREE YEARS ON THE BASIS OF INFORMATION OF SALE TRANSACTION OF A LAND AMOUNTING TO RS.90 LAKHS WHICH...

To address this issue, let us first understand an interplay of Sec 148,148A and 149(1)(b) and the relevant extracts are re-produced below: Section 148 of the Act- income escaping assessment Before making the assessment, reassessment or...

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