• Well, the year 2015 has just started and for the benefit of our readers we will like to share with them Fifteen important tips for Tax and Investment Planning.
  • These tips will surely help every tax payer to save some portion of his income-tax and also proper planning for his investment.
  • Here are these fifteen tips:-

1. Cut down your tax payments

  • The first theme for the year 2015 should be to cut down all your tax payment and this is possible through two vistas.
  • First is taking advantage of all exemptions and deduction and second is ensuring Income-tax file for every member in the family.
  • If you are able to take care of these two vistas only then surely your year 2015 would be a wonderful year bringing lot of money for you as a result of tax planning and also making money grow for you by proper planning of investment based on the changes made by the Government relating to investment strategy in whole of year 2015.



Analysis of Definition of Dormant Company:

Dormant Company means a company –
  • If a company is formed and registered under the Act for a future project and has no significant accounting transaction, or
  • If a company is formed and registered under the Act to hold assets and has no significant accounting transaction, or
  • If a company is formed and registered under the Act for Intellectual property and has no significant accounting transaction such a company, or
  • An Inactive company may make an application in such manner as may be prescribed for obtaining the status of dormant company.

  • The existing provisions contained in sub-section (9) of section 139 provide that where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of fifteen days. If the defect is not rectified within the time allowed by the Assessing Officer, the return is treated as an invalid return. The conditions, the non-fulfillment of which renders the return defective, have been provided in the Explanation to the aforesaid sub-section.
  • Section 140A provides that where any tax is payable on the basis of any return, after taking into account the prepaid taxes, the assessee shall be liable to pay such tax together with interest payable under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax, before furnishing the return.







  • Though every body is interested in this question and this question has been asked by many and generally not have any answer in text book also ,why it so ?
  • The answer is very Interesting that the above question is wrong the correct question is

    How we can create capital for HUF?

    We can not create HUF but can arrange capital for it.


Changes applicable in Service Tax w.e.f. 01/10/2014

  1. Advertisements in internet websites, out-of-home media, on film screen in theatres, bill boards, conveyances, buildings, cell phones, Automated Teller Machines, tickets, commercial publications, aerial advertising, etc. (sale of space for advertisements in print media would continue to be non-taxable) are leviable to Service Tax.
  2. Introduction of variable Rates of Interest u/s 75 of Finance Act, 1991:

Financial Management