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Year: 2017

Notice Under Section 143(1) and How to deal?

As the name states, an Intimation under Section 143(1) is only an Intimation and not a Scrutiny/ Assessment Order. Intimation under Section 143(1) is an auto-generated letter by the computers of the Income Tax Department without any human intrusion. Intimation under Section 143(1) is sent only in the following 3 cases:- Where any tax or […]

Changes in Income Tax Law That Come Into Effect From 01.04.2017

Kindly make note of the following changes in IT law that come into effect from 1-4-2017 – (1) Limit for payment of expenses by cash (both, capital and revenue expenditure) reduced from Rs.20000 to Rs.10000 per day in aggregate per person. Capital expenses paid in cash beyond the said limit will not be taken into […]

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