Salary income is one such salary where most of the tax is deducted by the employer himself and hence the...

Gift, as we had discussed in our earlier post, that it is out of natural love and affection, without consideration...

Recently the due date for applying to Vivad se vishwas - dispute resolution scheme has been extended to 31.12.2020 and...

Are you a professional using your savings bank account to send money outside India to freelancer who work for you...

Gift in simple terms means receiving anything without consideration. This is a very common thing where people receive gifts from...

In our earlier post we have mentioned that it will be mandatory to now validate UDIN within 15 days of...

CBDT has revised instruction sheet for ITR 2 to 7 on 22.11.2020. Instruction sheets of the ITR helps one in...

A new section 194-O was introduced in Income Tax act by Budget 2020. We have discussed the section in detail...

Lower tax regime u/s 115BAC was introduced by Budget 2020 for individuals wherein various different slabs were announced for individual...

Ministry of Finance on 12.10.2020 had announced cash package against Leave travel concession for government employees for the block period...

Central government on 12.10.2020 has announced a special cash package in lieu of leave travel concession (LTC) fare for government...

Our Hon'ble Finance minister in her Speech for Atmanirbhar bharat had announced that they are launching Pre-filled ITR's for the...

Our Hon'ble Finance Minister Smt. Nirmala Sitharaman had held a Press conference on 12.11.2020 to announce various schemes under Atma...

With digital India and making all department's digital it was announced by the government that slowly they will link all...

Section 115BAC is made applicable from FY 2020-21 i.e. AY 2021-22 which is the current financial year and all employees...