Instructions to Form ITR-3 (A.Y 2021-22) Instructions for filling out FORM ITR–3 These instructions are guidelines for filling the particulars in Income-tax Return Form-3 for the Assessment Year 2021-22 relating to the Financial Year 2020-21. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. […]
What is ITR: ITR stands for Income Tax Return. The Income Tax Act, 1961 governs all the ITR forms and procedures to be followed. This article gives an in-depth understanding of the ITR definition and types of ITR forms. Income Tax Return (ITR) is a form in which the taxpayers file information about their income […]
Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining process and documentation requirements under the schemes for enabling speedy claims disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1st April 2020 till date Posted On: 05 […]
Want to invest? or want to sell or buy business? or want to raise capital? In order to begin with such transaction, one has to execute an initial agreement i.e. ‘Term Sheet’.
The Companies Act, 2013 provides the provision for conversion of debts owned by a Company into shares of the Company. Regulatory Law: Section 62 of The Companies Act, 2013 This section enables loan borrowed by a Company to be converted into shares of that Company. The relevant provisions of Section 62 of the Act are […]
A company consists of members, though it has its own separate legal entity, and it is these members that constitute the whole company as a corporate entity. But who actually is a Member? As per Section 2(55) of Companies Act of 2013, member in relation to a company means: -The subscribers to the memorandum of […]
One of the major change is the introduction of the Faceless Scheme, for Assessments, Appeals and Penalty. Faceless Assessment scheme was notified in 2019 followed by Faceless Appeal scheme in 2020 and Faceless Penalty scheme in 2021.
Unprecedented Covid-19 pandemic has affected every sphere of our lives, most importantly social life, and passively affected the children’s psyche denying them their right to play, be it with their peers, apart from their studies.
In view of the spread of pandemic COVID-19 across many parts of India & challenges faced by Taxpayers, the Government vide Notification Nos. 08/2021- Central Tax, 09/2021- Central Tax, 10/2021- Central Tax, 11/2021- Central Tax, 12/2021- Central Tax, 13/2021- Central Tax, 14/2021- Central Tax, 01/2021 – Integrated Tax & 01/2021 – Union Territory Tax dated […]
1) GST Amnesty Scheme 2021 2) Relaxation in Late – Fee Payment 3) Due Dates Extended 4) Other Relaxation Summary of GST notification are tabulated below: – Relevant Notifications (Central Tax dated 01.05.2021) Notification No. Central Tax Description Notification No. 08/2021- Central Tax Dated: 1st May, 2021 Interest Relaxation for Tax Payable of Mar-Apr-21 Notification […]
