Deduction available in New regime of Income tax from Rental Income under Section 115BAC
As per sub section 2 of section 115BAC of the Act the following deduction shall not be available in relation ...
Friday, April 19, 2024
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Can an existing company claim or opt for tax rate 115BAB if not opted in first year’s income tax return
Hence, an important thing to note here is that a person can claim benefit of this section only when it ...
Comparison between Section 115BAC before and after AY 2024-25
Section 115BAC deals with lower/ concessional tax rates for individual, HUF etc. rather than the tax rates prescribed for individual ...
Form 10-IEA announced for opting in and out of Section 115BAC | Applicable from AY 2024-25
As announced in during the presentation of Budget, 2023, the new regime of tax under section 115BAC shall be the ...
Clarification by CBDT regarding intimation by employee to employer about selection of 115BAC or not [Read circular]
employer, shall seek information from each of its employees having income under section 192 of the Act regarding their intended ...
Intimation issued u/s 143(1) of the Act for AY 2020-21 does not allow depreciation on adjustment of WDV due to additional depreciation to companies opting for section 115BAA
To resolve the issue Income Tax department should take an initiative, issue a circular, reprocess all the returns and provide ...
[Breaking news] CBDT has allowed Condonation in filing of Form 10-IC for section 115BAA for Assessment Year 2020-21
Hence, the extended due date for filing Form 10-IC is 30.06.2022, however it is important to note that as of ...
Form 10-IC needs to be filed every-year for taking benefit of lower tax rate in case of companies under section 115BAA?
3. Do I need to file the form again for the next assessment year? No. If you have opted for ...
Form 10-IE not to be filed by people earning income from salary, capital gain but not from business for taking benefit of section 115BAC
Now, when a question was asked to a representative from Income tax department that by which circular/ notification are people ...
Comparison between new tax regime i.e. section 115BAC and old tax regime under Income tax | Income head wise comparison
Now let's have a look at the income head wise difference between the two provision. As we know there are ...
Employee opting for new tax regime u/s 115BAC: Here’s what all exemption/ deduction you will have to let go.
Section 115BAC is made applicable from FY 2020-21 i.e. AY 2021-22 which is the current financial year and all employees ...
Form 10-IE and 10-IF notified for section 115BAC and 115BAD respectively
It all started with concessional rate of tax for corporates in the form of Section 115BAA and 115BAB for which ...
Income tax Rules for depreciation under section 115BAA, 115BAB and 115BAC announced
Section 115BAA and 115BAB were announced for lower corporate tax rate also Section 115BAC was announced for lower tax rate ...
Forms 10-IC, 10-ID now available on e-filing website | What is Form 10-IC, 10-ID? Link with 115BAA and 115BAB
Our Finance Minister in September 2019 had announced concessional tax rate for domestic companies at effective tax rate of 25.17% ...
Will Capital gain be taxed at 22% and 15% for companies opting for 115BAA and 115BAB respectively
Finance minister had announced special rates for companies at 22% and 15% in September 2019 under section 115BAA and 115BAB ...
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- Beware of income tax notice while filing return of income!! Check SFT details for credit card, FD details etc.
- Housewife cannot be reassessed under Income tax for joint property held with husband [Read order]
- Notice received under section 148 of the Income tax act. What to do? Should you file Income tax return?
- Extension of GSTR-1 due date to 12th April 2024
- Assessee can choose method of valuation u/s 56(2)(viib) r.w.r. 11UA of Income tax act [Read order]
- CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims
- Time limit for verification of return of income after uploading [Applicable for AY 2024-25]
- Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024 | Should you file it now?
- Things to keep in mind while starting a new Financial year under various laws [2024]
- Statutory Compliance Calendar for April 2024 | Income tax, GST and various other laws
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