Income Tax News
ITR 2 for AY 2020-21 is now available for filing on e-filing website | Who can file? What are the changes in ITR 2
As we know ITR for AY 2020-21 or FY 2019-20 were notified by Income Tax department vide notification Dt. 29.05.2020. Now, on...
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Did recent notification of Income Tax on 24.06.2020 extended all due dates to 31.03.2021
On 24.06.2020 a notification was issued by Ministry of Finance notifying all the extension of due dates which were announced...
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ITR due date for FY 2018-19 extended | TDS return due date extended | Ordinance issued
As we know during this pandemic CBDT was issuing press release for many decisions. However such press releases cannot be...
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Employee’s share of EPF deposited after due date but before due date u/s 139 allowed as deduction – 36(1)(va) | A controversial topic
ESI and PF are statutory liability of an employer if it crosses a certain number of employees as mentioned in...
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Deduction partner remuneration while declaring income under Presumptive taxation scheme
Under Income Tax act, a few sections have been added which are known as presumptive taxation section and it includes...
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Now you cannot generate ITR Acknowledgement/ ITR-V until you e-verify your return or send it to CPC Bangalore | New update to ITR V
As we know ITR for FY. 2019-20 were released. Also ITR 1 and ITR 4 are now available for filing...
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Interest on late payment of TDS for 4th quarter of FY 2019-20 | Read this and you could save 1 month interest on late payment of interest
As we know because of lockdown all the business and banks were closed and many places are still not fully...
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OPT-OUT Facility provided to students by ICAI during Covid situation
IMPORTANT ANNOUNCEMENT During last few days, we have received mixed expression of opinions, views and requests from students, both relating...
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No extension of due date for payment of Advance Tax | Due date for 1st installment 15th June
As we know people who have tax liability of more than Rs. 10,000 during a year have to pay advance...
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Cost inflation index to calculate capital gain in FY 2020-21
Cost inflation index in Income Tax is used to give inflation effect to cost for long term capital asset purchased...
Read moreNew tax rate for Co-operative society – Section 115BAD | Budget 2020
Meaning of co-operative society under Section 2(19) of the Income Tax Act, 1961, is defined as “a cooperative society registered...
Read moreGrowth Trajectory of Direct Tax Collection & Recent Direct Tax Reforms
There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20...
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Finance Act – 2020, now available on Incometax India website
Finance Bills was introduced on 01.02.2020 in the parliament by our Hon'ble Finance minister Nirmala Sitharaman. As we know a...
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A company succeeding partnership firm can claim deduction under 80-IA even though original agreement was entered by firm – Supreme court
Company qualified for the deduction under section 80-IA being an enterprise carrying on the stated business pertaining to infrastructure facility...
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ITR 4 now available for AY 2020-21 | Who is eligible to file such return
As we know ITR for AY 2020-21 or FY 2019-20 were notified by Income Tax department vide notification Dt. 29.05.2020. Now, on...
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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
- 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?
- 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
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