News
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...
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Section 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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Registration of multiple companies at same address under GST? (Kerala AAR -In case of M/s Spacelance Office Solutions Pvt. Ltd.)
As we all know for GST registration we need to register a place as principal place of business which can...
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No Late fee u/s 234E for TDS returns filed prior to 01.06.2015:
Many of you must be receiving order/ notice u/s 200A from Income tax department for recovery of late fees for...
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This is how Income Tax Department recover money from big defaulters.
You might have seen people making huge default of Income tax and then they are being prosecuted and for tax...
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Penalty for Non filing or Late filing of Tax audit report – Section 271B and condonation in filing Tax Audit report
Yesterday i.e. 31st October 2019 was the last date for filing of tax audit report except for those living in...
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Extension of due date for Tax Audit till 30th November 2019 in J&K & Ladakh
CBDT vide order u/s 119 Dt. 31st October 2019 extended the due date for filing Tax audit report and Income...
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Interest on late deduction/ payment and Late filing fees under TDS provisions (Section 201(1A) and section 234E)
TDS in income tax i.e. Tax deducted at source is also a very confusing phenomenon for some people and they...
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MCA extends due date for uploading Annual return and Financial statement
MCA (Ministry of Corporate Affairs) vide notification dated 29.10.2019 extended the due date for filing Financial statement i.e. AOC -...
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Now you need to give exam to be an independent director
Recently Ministry of Corporate affairs vide a notification Dt. 22.10.2019 made amendment in Companies (Appointment and Qualification of Directors) Rules,...
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Monetary Limit for filing Appeal by Income Tax Department Revised/ Enhanced by CBDT:
The monetary limit which CBDT suggest is applicable to Income Tax Department i.e. it provides a parameter that the department...
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Auditor should not sign the audit report in a hurry – Penalty of Rs. 10,000 u/s 271-J of Income Tax Act.
With the last few days for Tax audit there are many people who have still not finalized their books of...
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What is cost inflation index and when its useful?
Cost inflation index in Income Tax is used to give inflation effect to cost for long term capital asset purchased...
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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
- GIFT City Investments and Schedule FA Disclosure
- 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
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