Income Tax News
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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Do NRI need to link their Aadhar with PAN? TDS at higher rate if PAN not linked with Aadhar?
As we know the due date for Linking of Aadhar with PAN is getting extended and extended but as of...
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ITR 1 for AY 2020-21 is now available for filing on e-filing website | Who can file? What are the changes in ITR 1
As we know ITR for AY 2020-21 or FY 2019-20 were notified by Income Tax department vide notification Dt. 29.05.2020....
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Amendment to rules for remuneration to be paid to an eligible Fund Manager u/s 9A of the I.T. Act
Rule 10V of the Income Tax rules deals with calculation of remuneration to be paid to a fund manager as...
Read moreForm 26AS/ Annual Information statement : Now more than history of just taxes paid of the Assessee! Full Financial details
“Question: Hey! What is your Tax History? Are you compliant and paying Income tax properly??Tax Payers (before): I do pay...
Read moreNew ITR 1 to 7 for AY 2020-21 notified by CBDT – Detailed analysis of important amendments
CBDT has notified ITR 1 to 7 for AY 2020-21. As we know the due date for filing ITR was...
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No TDS to be deducted on salary/ Interest paid to partner by partnership firm.
A partner in a partnership firm earns various types of Income: Remuneration/ salary, commission, interest on capital or profit share....
Read moreIncome of Uttarakhand EPPC Board and Cochin SEZ Authority – Now exempt under 10(46) of Income tax act
Vide notification in E-gazette CBDT has exempted various income of Uttarakhand Environment Protection & Pollution Control Board, Dehradun (PAN AAALU0160D)...
Read moreForms 26AS has been omitted | Now Annual Information statement will replace Form 26AS
Vide a notification, CBDT has scrapped earlier 26AS where credit of tax paid and refund received used to be shown...
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Father cannot sale shares or use proceeds of sons share being guardian of minor son without permission from court: Chennai Tribunal
In the present case assessee is famous cricketer and former captain of Indian cricket team K. Srikanth. Assessee along with...
Read moreNo disallowance u/s 14A if exempt income not earned during the year – Mumbai Tribunal
In a recent judgement by Mumbai Tribunal Dt. 14.05.2020 in case of Deputy Commissioner of Income-tax v. JSW Ltd. it...
Read moreSafe harbour rules 10TD and 10TE amended by CBDT
Safe harbour refers to the circumstances under which income tax authorities will accept the transfer price declared by the assessee...
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GST would be charged on renting service provided by religious trust – Karnataka AAAR
In a recent AAAR of Karnataka in case of a religious Trust i.e. M/s Acharya Shree Mahashraman Chaturmas Pravas Vyavastha...
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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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