Income Tax News

Equalisation levy has been defined under Equalisation levy Act as: "the tax leviable on consideration received or receivable for any...

Major Changes in Income Tax act which one needs to keep in mind while accounting for F.Y. 2020-21: 1. Dividend...

CBDT vide order u/s 119 of the Income tax act has provided the following relief in relation to TDS and...

Recently an ordinance was passed by Ministry of finance extending various due dates amid corona virus pandemic. In this ordinance...

Ministry of Finance has issued an ordinance to clarify the extension of various due dates. Same has been posted on...

There is notification being circulated wherein a rumor is being spread that Financial year has been changed from 01.04.2020 to...

In the Budget Announced on 01.02.2020, Honorable Finance Minister had announced an amendment in TCS provision wherein TCS was required...

Deduction under Chapter VI-A includes deduction u/s 80A to 80VV, however we are mostly aware about section 80C to 80U...

Earlier Section 194N was intended to deduct TDS on cash withdrawal by any person during a year above Rs. 1...

Economic Relief Package to fight Corono Virus FM announces economic relief package says Package of Rs 1.7 lakh cr under...

Update: Finance Bill, 2020 received assent from President on 27.03.2020 and is now an Act. Finance Bill, 2020 was presented...

In the video conference on 24.03.2020 following relief has been provided: Direct tax: Due date for filing ITR for F.Y....

In general terms belated return means return filed after the due date of filing return of income. However as per...

Vivad se Vishwas received assent of President on 17.03.2020 and on 18.03.2020 Forms were released by notification in the Gazette...

Vivad se Vishwas Bill is now an act as it receives President's assent on 17.03.2020. The updated act has been...