News
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...
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Here’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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Penalty for holding multiple PAN card: Rs. 10,000 u/s 272B
Owning a PAN card is responsibility in itself as it contains your tax related information on which the tax officials...
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GSTR 9 & 9A is compulsory for all taxpayer’s in F.Y. 2017-18 or else you won’t be able to edit it in future.
CBIC had few months ago vide notification no. 47/2019 dt. 09.10.2019 notified that it would be optional for all the...
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GST Registration cancelled if GSTR 3B not filed for past 6 months or more. Want to know why?
We have seen many people who have just applied for GST registration while starting a new business and then they...
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Mentioning the new address in Income Tax Return is not enough for change of address in Income Tax database: Supreme Court judgement
In a recent judgement in case of Principal Commissioner of Income Tax v. M/s I-Ven Interactive Limited, Mumbai, Honorable Supreme Court passed a...
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GSTR-9 &GSTR -9C more simplified & last dates of submission extended
Ministry of Finance vide its press release has extended due date for filing GSTR 9 and 9C for F.Y. 2017-18...
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Further clarification by CBIC for claiming 20% ITC on invoices not available in GSTR – 2A. Circular 123/42/2019 – GST
The CBIC has issued following further clarification with regard to claiming of ITC u/s 36(4) for which invoice is not...
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Time Limit for completion of scrutiny assessment proceedings – Section 153 of the Income Tax Act:
Section 153 defines the time limit for completion of scrutiny assessment proceedings by assessing officer which is as under: Section...
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Are your personal assets liable for capital gain? What is capital asset and capital gain income?
Capital gain income has been covered in the Income Tax Act from section 45 to 55. There are basically two...
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Interest for non payment of Advance Tax: (Section 234B & 234C):
There are two types of interest leviable for non payment of advance tax: Interest u/s 234B (Applicable when advance tax...
Read moreSection 194M: TDS on payment made for contract, commission and professional service for personal use
Section 194M was inserted by Finance Act 2019 to bring under the radar the income earned by professional and contractor...
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Input Tax credit on GST paid for goods purchased before GST registration
Many of us start business and then we apply for GST registration after we have crossed the threshold limit i.e....
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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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