Income Tax News
ICAI guidance note on Report u/s 92E of the Income Tax Act
As per the Income Tax Act, section 92E covers the following transaction on which a Chartered Accountant needs to prepare...
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Conditions and guidelines for exemption of income earned by pension funds
Section 10(23FE) was inserted by Finance Act, 2020 w.e.f. 01.04.2021 wherein any income earned by specified person in the nature...
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Liaison office cannot be considered as PE of foreign company in India – Supreme court
In Union of India V. UAE exchange center (116 taxmann.com 379) it was held by Supreme court that Services provided...
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Are you a salaried employee and doing trading in stock market? Confused as to which ITR to file !! Read this
Nowadays, many people have started investing in stock market to earn some passive income. Especially a boost could be seen...
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Verify your earlier years defective Income tax return and remove the defect | One time relaxation till 30.09.2020
Many a times people just file the return themselves online or using some online tool and are not aware that...
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Hotel bill above Rs. 20,000 | Purchase of jewellery, white goods above Rs. 1 lakh will be reported | SFT scope increased
Recently, government has been taking various steps to make things more digital, transparent and inter connected. One step in that...
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PM Modi launched platform for Transparent Taxation – Honoring the honest | Tax Payer Charter Launched
PM Modi said in his speech that they will increase the amount of faceless scrutiny and the algorithm for allotting...
Read morePrime Minister to launch platform for Transparent taxation – Honoring the honest
PMO (Prime minister Officer) has released a press release today, stating that Prime Minister will launch a portal for honest...
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Received Compliance notice for doing High value Share transaction
As we know the compliance portal has started working very effectively and is sending notice for any type of mismatch,...
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Section 148 notice issued in the name of a deceased/ dead person not valid in eyes of law and void
Notice u/s 148 or any further notice issued by Income tax officer in the name of deceased person is bad...
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What is presumptive taxation scheme under Income Tax? Difference between 44AD and 44ADA
Presumptive taxation is a scheme provided by Income Tax where in the people are not required to maintain the books...
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Who needs to file Income Tax Return or Who should file Income Tax Return?
Many people are confused whether they need to file the return of income or not, or when they need to...
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MSME credit scheme scope expanded to include professionals like Chartered Accountant, Doctor, lawyers etc.
The government on Saturday widened the scope of the Rs 3 lakh crore MSME credit guarantee scheme by doubling the...
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TOP Myths relating to Income Tax return….Busted
The common man have various myth's regarding income tax return and in this article we are going to discuss some...
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ITR 3 is now available on e filing website | Who can file it? What are the latest changes in ITR 3
Income Tax return for FY 2019-20 were announced, however till date only ITR 1, 2 and 4 were available for...
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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
- 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
- No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
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