Condonation of delay: 6 excuses and responses

Condonation of Delay: 6 Cases with Reason and Treatment

While the Indian justice system is infamous for its apathy, lack of urgency and efficiency, the Courts are not always to blame. Here are six cases where there was an inordinate delay in filing the appeal and the reasons given by the court in allowing or rejecting the condonation. One of the cases has a … Continue reading Condonation of Delay: 6 Cases with Reason and Treatment

Deductions for the differently abled under Section 80U

The government of India has provided various benefits to empower the differently abled and their families. One of the benefits under the Income tax Act for differently abled taxpayers to reduce their taxable income is a provided under section 80U. The criteria of disability for claiming the deduction of taxable income is fixed by the … Continue reading Deductions for the differently abled under Section 80U

Claiming deductions on donations: 4 questions and their answers

“Giving is not about making a donation. It’s about making a difference.” And, no act of kindness, no matter how small, is ever wasted. All your acts of kindness in the form of charity and donations come back to you in the form of a tax benefit provided by the Indian Government under section 80G … Continue reading Claiming deductions on donations: 4 questions and their answers

Deductions for Co-operative Societies: 5 questions and their answers

Section 80P of the Income Tax Act, 1961 provides for deduction in respect of income of co-operative societies. These incomes and the respective conditions are briefly as follows- 100% of the profit and gains attributable to certain businesses. 100% of the profit and gains of primary society carrying out supply of milk, oilseeds, fruits or … Continue reading Deductions for Co-operative Societies: 5 questions and their answers

Unexplained cash credits: 5 questions and their answers

Section 68 is one of the few sections in the Income Tax Act of 1961 which has largely remained unchanged. Apart from addition of provisos to cover corporate taxpayers, the purpose of the section has remained unchanged. So what does section 68 say? Amounts credited to an assessee are taxable unless the Act has specifically … Continue reading Unexplained cash credits: 5 questions and their answers

Curious Case of Rising Average Duration

The time taken to decide a case is crucial not only for the assessee, but is also considered a criteria for judging the efficiency and performance of the Income Tax Appellate Tribunals. The overall efficiency of forums have been discussed previously where we discussed the amount of workload on the members of the Tribunal affecting the time … Continue reading Curious Case of Rising Average Duration