Income Tax News
New modes of accepting payment notified under section 269SU with further clarification
CBDT on 30th December has issued a notification and a clarification with regard to further facilities a business must provide...
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Extension of due date for Tax audit in J&K and reply to notice u/s 142(1) for A.Y. 2018-19
CBDT vide its order under section 119 have increased the time limit for filing of Income tax return by any...
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Due date for payment of tax under Income Disclosure scheme extended:
Due date for payment of tax under Income Disclosure scheme extended: CBDT vide notification no. 103 of 2019 Dt. 13.12.2019...
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Notice u/s 143(1)(a) for A.Y. 2019-20 for various reason such as Capital gain, Late fee etc:
Notice u/s 143(1)(a) is an initial processing of return after it has been filed u/s 139 or 142(1) and such...
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Waiver of interest for payment of TDS u/s 194M of the Income tax act
CBDT vide circular no. 31 of 2019 Dt. 19.12.2019 has extended the due date for paying TDS deducted u/s 194M...
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Deadline to Link PAN card with Aadhar 31st December 2019
In a recent tweet by Income Tax department they have said that "To reap seamless benefits of income tax services,...
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Surcharge announced with the new Corporate tax rate ordinance can be a game changer?
In the ordinance Dt. 20.09.2019, two new corporate tax rate were announced u/s 115BAA and 115BAB i.e. 22% and 15%...
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Income Tax E-filing website not working properly [FEW UPDATES ON E-FILING WEBSITE:
On 11th November 2019 many of us tried to log in to e-filing website of Income tax department to submit...
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CA cannot certify Income tax return (ITR) even for loan purpose:
Recently in an FAQ issued by the ICAI it was asked whether a CA can certify the ITR of an...
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Things to keep in mind before shifting to 22% tax rate u/s 115BAA of the Income tax act:
An ordinance was passed by our Finance Minister on the 20th September 2019, where she announced two new corporate tax rates...
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Tax on severance pay in India
In Simple words Severance pay means: "A severance package is pay and benefits employees may be entitled to receive when...
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Can a salaried employee show business/ professional income and file ITR 4
In the times when everyone is constantly working and trying to earn more there are many salaried employee also who...
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Section 80EEB: Deduction in respect of interest paid for purchase of electric vehicle
Section 80EEB was introduced by Finance Bill, 2019 to provide additional deduction with respect to interest on purchase of electric...
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Which companies cannot avail 15% tax rate and pay tax at lower rate:
An ordinance was passed by our Finance Minister on the 20th September 2019, where she announced two new corporate tax...
Read moreHere’s how you need to deduct TDS u/s 194M without TAN: New TDS Form 26QD introduced for TDS u/s 194M:
CBDT vide notification Dt. 18.11.2019 has notified Form No. 26QD to be filed to deduct TDS u/s 194M of the...
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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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