CA cannot certify Income tax return (ITR) even for loan purpose:
Recently in an FAQ issued by the ICAI it was asked whether a CA can certify the ITR of an...
Thursday, June 26, 2025
Things to keep in mind before shifting to 22% tax rate u/s 115BAA of the Income tax act:
An ordinance was passed by our Finance Minister on the 20th September 2019, where she announced two new corporate tax rates...
Tax on severance pay in India
In Simple words Severance pay means: "A severance package is pay and benefits employees may be entitled to receive when...
Can a salaried employee show business/ professional income and file ITR 4
In the times when everyone is constantly working and trying to earn more there are many salaried employee also who...
Section 80EEB: Deduction in respect of interest paid for purchase of electric vehicle
Section 80EEB was introduced by Finance Bill, 2019 to provide additional deduction with respect to interest on purchase of electric...
Which companies cannot avail 15% tax rate and pay tax at lower rate:
An ordinance was passed by our Finance Minister on the 20th September 2019, where she announced two new corporate tax...
Here’s how you need to deduct TDS u/s 194M without TAN: New TDS Form 26QD introduced for TDS u/s 194M:
CBDT vide notification Dt. 18.11.2019 has notified Form No. 26QD to be filed to deduct TDS u/s 194M of the...
Penalty for holding multiple PAN card: Rs. 10,000 u/s 272B
Owning a PAN card is responsibility in itself as it contains your tax related information on which the tax officials...
Mentioning the new address in Income Tax Return is not enough for change of address in Income Tax database: Supreme Court judgement
In a recent judgement in case of Principal Commissioner of Income Tax v. M/s I-Ven Interactive Limited, Mumbai, Honorable Supreme Court passed a...
Time Limit for completion of scrutiny assessment proceedings – Section 153 of the Income Tax Act:
Section 153 defines the time limit for completion of scrutiny assessment proceedings by assessing officer which is as under: Section...
Are your personal assets liable for capital gain? What is capital asset and capital gain income?
Capital gain income has been covered in the Income Tax Act from section 45 to 55. There are basically two...
Interest for non payment of Advance Tax: (Section 234B & 234C):
There are two types of interest leviable for non payment of advance tax: Interest u/s 234B (Applicable when advance tax...
Section 194M: TDS on payment made for contract, commission and professional service for personal use
Section 194M was inserted by Finance Act 2019 to bring under the radar the income earned by professional and contractor...
No Late fee u/s 234E for TDS returns filed prior to 01.06.2015:
Many of you must be receiving order/ notice u/s 200A from Income tax department for recovery of late fees for...
This is how Income Tax Department recover money from big defaulters.
You might have seen people making huge default of Income tax and then they are being prosecuted and for tax...
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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
- Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
- Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
- ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
- Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
- No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
- Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]
- Statutory Audit of Trade Receivables in Indian Companies [Company law]
- Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws
- Budget 2025 updates | Income tax and GST updates
- Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department
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