Know all About Rebate u. s. 87A of the Income Tax Act for FY 2018-19 and FY 2019-20
The basic meaning of rebate u/s 87A is that if your income is below a certain limit as mentioned in...
Wednesday, June 25, 2025
Additional 1.5 lakh deduction on re-paying your Home Loan interest but are you eligible for it?? – Section 80EEA
Finance Minister Nirmala Sitharaman unveiled a budget on 5th July 2019, the first since the Bharatiya Janata Party led by...
Faceless scrutiny under Income Tax: You won’t know who is your Assessing your scrutiny case
We have been hearing about Faceless scrutiny for many years now and we have also read about it but never...
Can you claim maintenance charges, rent of furniture or any other expense against Income from House property?
Earning income by Renting out the property is a major source of income for many individuals in India and many...
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
The parameters for manual selection of returns for Complete Scrutiny during financial year 2019- 20 are as under.- (i) Cases involving...
How to calculate turnover in case of intra day and future and option trading for Income Tax purpose?
In the recent times many people have started trading in intra day and future & options and the volume of...
No Income Tax for income upto Rs. 5 lakh for F.Y. 2019-20?
After the budget announcement was made by Shri Piyush Goyal on 1st February 2019, many people were confused that do...
Rate of Depreciation as per Income Tax Act:
Depreciation rate used for section 32 of the Income Tax act is as follows: Depreciation in Income tax is to...
Document Identification Number (DIN) now compulsory from 01.10.2019 on each communication by Income Tax Department
Before 4-5 years people used to receive notices from Income Tax Department via and post and from past 4-5 years...
CBDT amends rule 114 and issues clarification on interchangeability of Aadhar card and PAN card:
In the budget Speech it was announced by our Finance minister that now people can quote their Aadhar number in...
TAXATION ON BUY BACK OF SHARES: LISTED SECURITIES/ UNLISTED SECURITIES:
Section 115QA was inserted by Finance Act 2013 to deal with buy back of securities but it only covered unlisted...
CBDT clarification on application of TDS u/s 194N of the income tax act and this section won’t be applicable on Foreign exchange dealers. (i.e. TDS on cash withdrawal from bank)
Update: On October 15, 2019 the following clarification was provided by CBDT: Using the power provided in clause (v) of...
TDS Rate Chart for FY 2019-20
With Budget 2019 only two major amendments were made with regard to TDS: Under section 194A the limit for TDS...
Who can File ITR 1 and ITR 4?
Let’s discuss who can file ITR 1 and 4 and who cannot. Before starting with the details one must also...
Tax on winning prize money on KBC, Dream 11 and other such game shows:
When you see people winning 3,20,000 on KBC or when you win big on Dream 11 you might be having...
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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
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