Income Tax News
Faceless scrutiny in Income Tax is now a reality. New E-assessment procedure started
Hon'ble Finance Minister, while presenting the Budget, 2019, made an announcement in her speech that a new scheme of faceless...
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Long Term capital gain on listed shares now taxable @10% u/s 112A of the income tax act.
Long term capital gain on sale of listed security shall be Applicable on any sale of listed security after 1.4.2018...
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Received notice/ Intimation u/s 143(1) – Know what does it mean and how to reply?
Whenever we receive any notice from Income Tax department we start worrying even if we hadn’t done anything wrong. In...
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Penalty u/s 234F for late filing of income tax return along with some disadvantages
In this post we will discuss about the various penalties, interest and disadvantages you can face if you file your...
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Interest u/s 234A applicable even if you pay income tax before due date of filing Income tax Return?
As per section 234A of the income tax Act if you have paid tax before the due date of filing...
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Section 115BAB – 15% Tax on newly incorporated manufacturing Companies
On Friday, 20th September, 2019 everyone was ready for some announcement regarding discontinuance of GSTR 9 etc from our Finance...
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Due date for Tax audit for A.Y. 2019-20 extended from 30th September to 31st October
However you still need to pay interest for tax payable after 30th September 2019
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CBDT gives clarification with regard to filing of ITR – 5, 6 and 7.
Question 1: In the Form ITR-6, an unlisted company, other than a start-up, is required to furnish details of shareholding...
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ITR 6 modified just before return filing due date.
The due date for filing return of income is 30th September and CBDT has released new schema for companies in...
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ICAI provides one time relaxation – Now UDIN can be generated within 30 days instead of 15 days.
In response to the various representations received from Members at large for inability in generating UDIN due to floods in...
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Know all About Rebate u. s. 87A of the Income Tax Act for FY 2018-19 and FY 2019-20
The basic meaning of rebate u/s 87A is that if your income is below a certain limit as mentioned in...
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Additional 1.5 lakh deduction on re-paying your Home Loan interest but are you eligible for it?? – Section 80EEA
Finance Minister Nirmala Sitharaman unveiled a budget on 5th July 2019, the first since the Bharatiya Janata Party led by...
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Faceless scrutiny under Income Tax: You won’t know who is your Assessing your scrutiny case
We have been hearing about Faceless scrutiny for many years now and we have also read about it but never...
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Can you claim maintenance charges, rent of furniture or any other expense against Income from House property?
Earning income by Renting out the property is a major source of income for many individuals in India and many...
Read moreGuidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
The parameters for manual selection of returns for Complete Scrutiny during financial year 2019- 20 are as under.- (i) Cases involving...
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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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