Parliament received the assent of the President to Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on the 29th September, 2020 and unless otherwise provided, it shall be deemed to have come into force on the 31st day of March, 2020.
It is stated that company can file Form DPT-3 till 31st December, 2020 without any additional fee, however, it has to be filed a FORM CFSS-2020 after closure of scheme.
ACIT Vs. Head Infotech India Pvt. Ltd. (ITAT Hyderabad) Assessee hosts online games and when the customers make payments through banking Gateways by way of credit or debit card of the relevant banks ( which are referred to as Gateways) and while transferring money to the assessee’s account, banks invariably retain service charges. It is […]
DCIT Vs. Chitradurga District Co-Op. Central Bank Ltd. (ITAT Bangalore) If an assessee adopts the mercantile system of accounting and in his accounts he shows a particular income as accruing, whether that amount is really accrued or not is liable to bring the said income to tax. His accounts should reflect true and correct statement of affairs. […]
Tax Bar Association, Guwahati has made a request to Hon’ble Union Finance Minister for extension of due date for filing of GST Annual Return Forms GSTR 9, 9A & 9C for the year 2018-19. Full Text of the Representation is as follows:- Dated: September 27, 2020 To Hon’ble Finance Minister Govt. of India New Delhi […]
Any income due or received by an employee from his employer or former employer is taxable under the head `salaries’ as per the provisions of the Income Tax Act, 1961. It is pertinent to note that the salary earned in respect of a particular financial year is subject to tax as per the tax rates applicable for that financial year.
