CBDT notifies changes to Rule 11UA in respect of ANGEL TAX
Taking into consideration the suggestions received in this regard and detailed interactions held with stakeholders, Rule 11UA for valuation of...
Monday, October 2, 2023
Extension of time limit for Tax audit of trust and file Form 10B and Form 10BB and ITR 7
Due date for Form 10B and Form 10BB has been extended to 31st October 2023 from 30th September 2023. Further,...
Turnover limit for Tax audit is Rs. 1 crore or Rs. 10 crore under section 44AB of the Act
If both the conditions are fulfilled then the assessee won't be required to conduct tax audit even if turnover exceeds...
Digital Signature Certificate (DSC) related issues and solutions on Income tax E-filing portal
Taxpayers are advised to check DSC for its expiry date, registration on e-Filing portal & installation of latest emBridge application...
Definition of turnover in relation to F&O and intraday as per Revised guidance note of ICAI on Tax audit for 2023
Premium received on sale of options is also to be included in turnover. However, where the premium received is included...
Claim TDS credit deducted in next assessment year for income offered in earlier year [Read section]
tax on such income has been deducted at source and paid to the credit of the Central Government in accordance...
Salaried employee receiving notices for claiming deduction under Chapter VI-A
As per the above notice it is not an assessment notice but a preliminary notice to assessee to inform him...
Relaxation in filing Form 10 for accumulation till the due date of filing Income tax return [Read circular]
However, the accumulation/deemed application shall not be denied to a trust as long as the statement of accumulation/deemed application is...
[Update] Reply from Income tax on 80P adjustment issued by Income tax department u/s 143(1)(a) to LLP, Firm etc.
Intimation u/s 143(1) of Income-tax Act, 1961 with the error description: “In Schedule 80P, deduction u/s 80P(2)(e) cannot be claimed...
LLP, Partnership firm, AOP etc who have filed ITR 5 for AY 2023-24 are receiving 143(1)(a) notice for 80P adjustment
CPC has provided 15 day's time limit to respond to such notice. Since this is a system error of CPC...
Late fees will be charged if Income Tax return is verified after 30 days from date of filing Income Tax return
However, if the return is filed after the due date i.e. after 30 days of filing the date of filing...
Due date to complete Tax audit of Trust is 31.08.2023 and not 30.09.2023. Here’s why?
Hence, to file Form 10 till 31.08.2023 the trust has to finalize it's books of accounts also till 31.08.2023 and...
Now all the trust have to get their books of accounts audited under Income Tax Act. Here’s why?
Accordingly, the maximum amount not chargeable to tax for the purpose of Section 12A(1)(b) would now be Rs. 1 as...
CBDT launches revamped National Website of the Income Tax Department to read act, circular etc
The new functionalities, allow users to compare different Acts, Sections, Rules, and Tax treaties. All relevant content on the site...
Non-residents investing in shares and securities in India have to compulsorily file income tax return
Hence, if a non-resident earns any income from equity share trading during the year he will have to file income...
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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
- Extension of last date for payment of Membership /COP fee for the year 2023-24 to 31st October, 2023
- Clarification on holding of AGM and EGM through video Conferecnce (VC) or other Audio visual means
- CBDT notifies changes to Rule 11UA in respect of ANGEL TAX
- Clarification on TCS liability under Sec 52 of GST act, in case of multiple E-commerce Operators in one transaction
- Extension of validity of FCRA registration till 31.03.2024 [Read public notice]
- Advisory: Geocoding Functionality for the Additional Place of Business – GST website
- Multipurpose Empanelment Form (MEF) – 2023-24 | Now Open
- Extension of time limit for Tax audit of trust and file Form 10B and Form 10BB and ITR 7
- Turnover limit for Tax audit is Rs. 1 crore or Rs. 10 crore under section 44AB of the Act
- Digital Signature Certificate (DSC) related issues and solutions on Income tax E-filing portal
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