Last chance to declare foreign assets in income tax return for AY 23-24 or you can face Rs. 10 lakh penalty
if a person does not discloses foreign asset in it's income tax return it could result in a penalty under...
Tuesday, October 20, 2026
What is the fees for filing Appeal before CIT(A) under Income tax Act?
The assessee has to file Appeal within 30 days from the date of service of order or demand as the...
TCS at 20% under Income tax Act on sending money outside India under LRS. Applicable on non-resident?
Thus, after 01.10.2023, any remittance made outside India for any purpose i.e. maintenance of family or investment etc. 20% TCS...
Assessment order in name of deceased is not valid and void ab initio [Read order]
Reassessment initiated in the name of deceased person and since no response was received from assessee Ld. AO passed order...
What is 133C notice being received by Assessee under Income tax in relation to TDS?
The notice is being served on the deductor for AY 2021-22 or AY 2022-23 in relation to the feedback being...
Procedure, format and standard for filing an application for lower deduction of TDS by deductee u/s 197 [Read notification]
For making an application in Form 13 with Annexure II the tax-payer/Deductee shall login into the TRACES website (www.tdscpc.gov.in), for...
Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]
Hon'ble Mumbai ITAT has passed an order in case of Ms. Shobha Harish Thawani for AY 2016-17, 2017-18 and 2018-19...
What is short stay exemption available under Indian Income Tax Act?
there are other conditions prescribed under section 10(6)(vi) which needs to be fulfilled to get the above exemptions by foreign...
What is discard return? How to discard Income tax return? FAQ on discard return
As of now there is no clarity as to why discard return option is better than filing a revised return,...
Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?
As per the above points it was mentioned that TDS/ TCS needs to be deducted/ collected at higher rates. This...
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...
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for Assessment Year 2021-22
The delay in filing of Form No. 10-IC as per Rule 21AE of the Rules for previous year relevant to...
ITR V showing invalid due to non-verification for income tax return filed by audited entities [AY 2023-24]
However, when the assessee were trying to download ITR V later it was showing a watermark on the verification form...
Extension of due date for filing Form 56F for AY 2023-24 till 31.12.2023
hereby extends the due date of filing of report of the accountant as required to be filed under clause (8)...
CBDT has issued clarification with regard to Form 10B and Form 10BB [Read circular]
CBDT has vide Circular No. 17/2023 Dt. 09.10.2023 provided clarification in relation to data which needs to be feeded in...
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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
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