Income Tax News
Amendments in TDS and TCS provision by Budget 2020
The budget for F.Y. 2020-21 was announced on 01.02.2020 by Mrs. Nirmala Sitharaman. In this budget there were huge amendments...
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NRI needs to pay tax on global income in India? (Important updates for NRI in Budget 2020)
Budget 2020 was announced on 01.02.2020 by our Finance Minister Nirmala Sitharaman wherein many amendments have been made and all...
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Why a salaried employee should not opt for New Tax rates!
In the below table we have discussed various basic calculation of Income tax for various income's for salaried individual: Income...
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New slab rate for individuals for F.Y. 2020-21 (A.Y. 2021-22) – section 115BAC
The budget has been announced today and it brings good news for some tax payers but there are various things...
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Transaction Limit of loan u/s 269SS and 269T reduced to Rs. 10,000?
Recently all of us have come across an extra ordinary notification wherein it is being circulated that limit for section...
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Complete your compliance u/s 269SU on e filing website till 31.01.2020 or pay Rs. 5000/ day penalty
Section 269SU was introduced by Finance Act, 2019 w.e.f. 01.11.2019 wherein it was mentioned that:"Every person, carrying on business, shall...
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How should a CA certify ITR V for loan purpose?
In a recent FAQ released by ICAI regarding UDIN we had seen that it was mentioned by ICAI that a...
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E-assessment vs. Faceless Scrutiny in Income Tax
In this post we are going to discuss the various differences which we have faced in faceless scrutiny as compared...
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Tax audit u/s 44AB to be scrapped?
Budget 2019 was announced in two parts last year as there was election. Last year major amendments were made to...
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Get ready for some surprise from Income Tax Department (More search and survey)
Since the new year has started and a quarter end the CBDT is below its target and as always there...
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Which income can be taxed as income from house property?
In this post we are going to discuss what types of rent income would be included under the head Income...
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CBDT issues circular for detailed explanation on TDS deduction u/s 192 of the Income tax act
CBDT has vide circular 04/2020 made a detailed explanation on TDS deduction on salary u/s 192 of the Income tax...
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Who needs to file income tax return u/s 139(1) of Income tax Act
It's a major concern for everyone to know whether he/ she is liable to file income tax return during the...
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Exception to monetary limit for filing appeal before ITAT, High court and Supreme court
CBDT vide circular 17/2019 had enhanced the monetary limit of tax effect to file departmental appeal before ITAT, High court...
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Eligibility condition for ITR 1 and 4 for A.Y. 2020-21 relaxed
CBDT had released a notification, notifying ITR 1 and 4 for A.Y. 2020-21. There were various conditions mentioned in that...
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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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