Income Tax News
FAQ’s on AIS (Annual Information Statement) issued by Income Tax Department
AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried...
Read more
Income Tax Department conducts searches on two real estate groups of Bengaluru and Hyderabad
The initial analysis of the seized documents has also revealed that these groups have suppressed income to the tune of...
Read more
ITR 7 is now available for filing for for AY 2022-23 | File ITR 7 online with experts on Taxontips
Although there have been no key changes in filing of ITR 7 or it's content as such but it is...
Read moreIncome Tax Department conducts searches on Pharmaceutical Manufacturers and Distributors in Haryana and Delhi-NCR
This modus-operandi of unaccounted cash sales of pharmaceutical medicines, including cash receipts through hawala for sale of medicines to Afghanistan,...
Read more
Beware before filing your Income Tax Return with the online software’s and platforms for free or for cashback | Read this
Hence, in the temptation of getting return filed for free and cashback and gift card people are getting their income...
Read moreIncome Tax Department conducts searches in Chhattisgarh
The modus-operandi followed by the group includes unfair regular collection on coal transportation throughout the State of Chhattisgarh leading to...
Read more
Further clarification on Section 194S provided by CBDT | TDS form for exchange | mileaga, gift points not VDA
TDS form for virtual digital asset exchange for deducting TDS (Notification No. 73/2022) Dt. 30.06.2022 CBDT has release Form 26QF...
Read more
Income tax e-filing website not working properly from past 2 days – Income Tax Department responds
People started complaining about the website and thus Income Tax department had to respond to that and the response is...
Read more
Order u/s 119 of the I.T. Act, 1961 in relation to TDS u/s 194S for transactions other than those taking place on or through an Exchange [Read circular]
According to the proviso to sub-section (1) of section 194S of the Act, there could be a situation where the...
Read more
Clause 44 of the Tax Audit Report will be applicable for AY 2022-23 | Here’s why
The amendment and insertion of clause 44 in Tax Audit report was first introduced in 3CD in 2018. The existing...
Read more
Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act
Section 194S: Payment on transfer of virtual digital asset: Any person responsible for paying to any resident any sum by...
Read moreITR 5 is now available for filing | What are the changes in ITR 5 for AY 2022-23 | File ITR 5 online with experts on Taxontips
We have already discussed about the various ITR which are already available to us i.e. ITR 1 to 4. In...
Read more
List of business codes not eligible for section 44AD – Presumptive taxation
Considering the above exclusion we can say that if a person is showing his income and using the purpose code...
Read moreITR 3 is now available for filing | Key changes in ITR 3 for AY 2022-23 | File ITR 3 online with experts on Taxontips
Income Tax return for FY 2021-22 were announced, however till date only ITR 1, 2 and 4 were available for...
Read moreClarification provided by CBDT in relation to TDS under section 194R of the Act – TDS on perquisite [Read circular]
It is not necessary for the payer/deductor to check the taxability of the sum in the hands of the payee...
Read more-
GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
-
How to pay Membership and COP fees of ICAI for 2020-21 |
-
Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
-
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
-
SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- GIFT City Investments and Schedule FA Disclosure
- Taxation and Income tax return of Foreign Companies Earning Income from India under special rates
- Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting
- Notice from Income tax department e-verification cell for non-filing ITR. How to respond
- Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN
- Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
- 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
TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India
