Income Tax

Income Tax Return (Financial Year 2019-20, Tax Audit Financial Year 2019-20, Vivaad se Vishwas Scheme Extended, Date of assessments getting barred as on Sep 30, 2020, Date of assessments getting barred as on March 31)

Income Tax Return (Financial Year 2019-20, Tax Audit Financial Year 2019-20, Vivaad se Vishwas Scheme Extended, Date of assessments getting…

6 years ago

Am I required to keep a copy of the Income Tax Return filed as proof and for how long ?

Am I required to keep a copy of the Income Tax Return filed as proof and for how long ?…

6 years ago

Gift received by an individual from Hindu undivided family (HUF) isn’t exempt: Income Tax Appellate Tribunal || Gyanchand M. Bardia v. The Income Tax Officer

Gift received by an individual from Hindu undivided family (HUF) isn't exempt Gyanchand M. Bardia v. The Income Tax Officer…

6 years ago

Insertion of new section 80M Deduction in respect of certain intercorporate dividends.

Insertion of new section 80M  (Budget 2020) After section 80LA of the Income-tax Act, the following section shall be inserted…

6 years ago

Tax Deducted at Sources Amendment made by Finance Act in TDS applicable from 01st -April-2020 ||Tax Collected at Sources (TCS) With effect from 01-10-2020

Tax Deducted at Sources Amendment made by Finance Act in TDS applicable from 01st -April-2020 TDS (Tax Deducted at Sources)…

6 years ago

Income Tax and GST/Indirect Tax Compliance Matters Due Date Extended || Chart of Extended Important Due Date

Finance Minister announces several relief measures relating to Income Tax and GST/Indirect Tax compliance matters across Sectors in view of…

6 years ago

What books of account have been prescribed to be maintained by a person carrying on business/profession under the Income tax Act 1961? ||

The Income-tax Act 1961 does not prescribe any specific books of account for a person engaged in business or in…

6 years ago

Tax audit turnover threshold limit increased-Amendment of section 44AB. ||Amend in Due date of furnishing Tax report -Amendment of section 139.||TDS/TCS Deduction limit

Tax audit turnover threshold limit increased to 5 crores Rupees for business (Amendment of section 44AB of the Act).  (A)…

6 years ago

What are the specified financial transactions in which quoting of PAN (Permanent Account Number) is mandatory?

What are the specified financial transactions in which quoting of PAN is mandatory? Rule 114B of Income tax rule -…

6 years ago

Key Highlights of Budget 2020 (Announcements) with copy of Union Budget

Key Highlights of Budget 2020 (Announcements) Budget Income Tax Announcements Income Tax Rate 10% income tax rate for Income between…

6 years ago