How to use verify bulk PAN/TAN service- FAQs Q.1 Who can use the verify bulk PAN/TAN service? Ans. The Verify Bulk PAN/TAN service is available to external agencies (government and non-government), including the Central Government, State Government Departments or undertakings, recognized autonomous bodies, RBI-approved Banks or Financial Institutions who register as an external agency on […]
How to Raise Income Tax Rectification Request on Portal – FAQs Q.1 When do I need to submit a rectification request? Ans. A request for rectification can be submitted on the e-Filing portal if there is any mistake apparent from record, in an Intimation issued u/s 143(1) or order u/s 154 by the CPC or […]
Form 10E FAQs Q.1 What is Form 10E? Ans. In case of receipt in arrears or advance of any sum in the nature of salary, relief u/s 89 can be claimed. In order to claim such relief, the assessee has to file Form 10E. The Form must be filed before filing the Return of Income. […]
We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21.
You all must be getting some communication from your vendors/suppliers/buyers etc. asking for declaration on whether you have filed your IT Return for the previous two financial years or whether your total TDS deducted exceeds Rs. 50,000/- in the previous two financial years. All this is because there are major changes in TDS Provisions from […]
TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVID-19 is exempt from income tax liability in the hands of the taxpayer from Financial Year 2019-2020 onwards. Family of Taxpayer Financial assistance (ex-gratia payment) extended by employers and well-wishers to the family members of the taxpayers who […]
The Government of India, has given provision to link passport to Covid Vaccination certificate for those who have already Vaccinated for Foreign Travellers.
Discover the benefits of the National Pension System (NPS) for regular income post-retirement. Learn about the low-cost structure, tax efficiency, and flexibility of investment.
CBDT on 25 June, 2021 considering hindrances caused by Covid, extended due dates for certain compliance and exempted COVID treatment expenses incurred by employers. Summary: Exemptions: 1. Covid treatment expenses by employers for employees for FY 2019-20 and subsequent years. 2. Ex-gratia payment received by family members of employee deceased due to Covid for FY […]
Income Tax Act has broadly defined taxability of income under five heads of Income. One of them is Capital Gain, where gains arising out of the sale of capital assets are taxable in the hands of the seller of the capital asset. However, with the intention of tax evasion, assesses started entering into an agreement […]
