Rate of Depreciation as per Income Tax Act:
Depreciation rate used for section 32 of the Income Tax act is as follows: Depreciation in Income tax is to ...
Tuesday, November 28, 2023
Document Identification Number (DIN) now compulsory from 01.10.2019 on each communication by Income Tax Department
Before 4-5 years people used to receive notices from Income Tax Department via and post and from past 4-5 years ...
CBDT amends rule 114 and issues clarification on interchangeability of Aadhar card and PAN card:
In the budget Speech it was announced by our Finance minister that now people can quote their Aadhar number in ...
TAXATION ON BUY BACK OF SHARES: LISTED SECURITIES/ UNLISTED SECURITIES:
Section 115QA was inserted by Finance Act 2013 to deal with buy back of securities but it only covered unlisted ...
CBIC waives requirement to furnish Form ITC -04 from July 2017 to March 2018 and F.Y. 2018-19
CBIC in its recent notification no. 38/2019 under CGST notification waived the requirement to file ITC - 04 for FY ...
CBDT clarification on application of TDS u/s 194N of the income tax act and this section won’t be applicable on Foreign exchange dealers. (i.e. TDS on cash withdrawal from bank)
Update: On October 15, 2019 the following clarification was provided by CBDT: Using the power provided in clause (v) of ...
TDS Rate Chart for FY 2019-20
With Budget 2019 only two major amendments were made with regard to TDS: Under section 194A the limit for TDS ...
Compulsory GST registration for inter-state supply
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, ...
Who can File ITR 1 and ITR 4?
Let’s discuss who can file ITR 1 and 4 and who cannot. Before starting with the details one must also ...
Tax on winning prize money on KBC, Dream 11 and other such game shows:
When you see people winning 3,20,000 on KBC or when you win big on Dream 11 you might be having ...
Last minute FAQ with regard to filing of your Income tax Return.
FAQ you must read before filing your return of income and providing some information: First let's talk about the questions ...
Income tax slab rate for F.Y. 2019-20 i.e. A.Y. 2020-21 is as follows:
Income Tax Slab Rate for resident Individual (i.e. men/women) below 60 Years of Age: Income Tax Slab Income Tax Slab ...
CBDT simplifies the process of assessment in respect of Startups:
As announced by the Finance Minister Nirmala Sitharaman in her budget speech on 5th July 2019, that Startup’s will get ...
Section wise Highlights of Budget I & II 2019:
Under section 10(12A), the limit for tax free withdrawal for National Pension scheme has been increased from 40% to 60% ...
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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
- CGST Delhi East busts a syndicate of 48 fake firms availing fraudulent ITC of over ₹199 crores in “Operation Clean Sweep”, 3 arrested
- ITC reversal on account of Rule 37(A) by the recipient
- Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?
- Comparison between Section 115BAC before and after AY 2024-25
- Advisory for the procedures and provisions related to the amnesty for taxpayers for filing appeal under GST
- Statutory Compliance Calendar for November 2023 | Income tax, GST and various other laws
- Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration
- Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for Assessment Year 2021-22
- GST revenue collection for October 2023 is second highest ever, next only to April 2023, at ₹1.72 lakh crore
- ITR V showing invalid due to non-verification for income tax return filed by audited entities [AY 2023-24]
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