In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due date for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020,vide Notification No. 56/2020-Income Tax dated 29th July, 2020. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL […]
MHA issues Unlock 3 Guidelines, opens up more activities outside Containment Zones, Strict enforcement of lockdown in Containment Zones till 31st August 2020. New MHA guidelines Ministry of Home Affairs (MHA) issued new guidelines today, for opening up of more activities in areas outside the Containment Zones. In Unlock 3, which will come into effect […]
Cabinet Approves National Education Policy 2020 (NEP, 2020) paving way for transformational reforms in school and higher education systems in the country The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the National Education Policy 2020 today, making way for large scale, transformational reforms in both school and higher education sectors. The […]
The issue under consideration is whether the AO is justified in making addition u/s 68 towards alleged unexplained deposit in the bank account in as much as a bank account is not a book of account maintained by the appellant?
Whether the public interest litigation (PIL) challenging non-inclusion of advocates in the definition of the word ‘professionals’ under the MSMED Act, 2006 will be entertained by High Court?
The issue under consideration is Whether compensation paid to earlier buyer to cancel the agreement is deductible expenditure u/s 48 for calculation of Capital Gains?
whether the office which is established merely for the sake of communication is covered under the character of Permanent Establishment (PE) under India-Korea DTAA?
If an individual does’t have a Digital Signature, does this mean he/she cannot file the return online? Do I need a fresh digital signature, in case I already have one? How much does a DSC cost? How can a DSC be attached with the return while uploading ? The Web site accepts DSC in the .pfx format. Other formats like .cer are not being accepted. Can USB token based DSC be used to file the return ? It is not clear what class of DSC should be used while filing the return ? Company name has been changed in the income tax database but still on the e-filing website, previous name is shown after logging in, Why? I am unable to register DSC in the ITD e-filing website ? How to register the DSC of foreign company? When I upload my return with DSC, I get the error fake path and can’t read the file. Why is it so?
There are some media reports about reintroduction of the FRDI Bill. This is to clarify that the Government has not taken any decision to reintroduce the FRDI Bill.
Very often we get involve in rendering of professional services to charitable and religious organization commonly called as NGO, NPO etc. These services include Auditing, Accounting, Taxation, consultancy, foreign transaction related issues etc. In this regard as far as taxation services are concerned some common errors frequently happen and by mean of this article I have tried to demonstrate those errors and also the corrective measures thereof.
