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Deepanshu Gupta

Latest Posts by Deepanshu Gupta

Clarification regarding possibility of double taxation during Covid-19 – FY 2020-2021

March 5, 2021 3114 Views 0 comment Print

The whole Covid-19 pandemic situation has made government to release a lot of relaxations and clarifications. One major concern that was brought forward for the clarification was the question of double taxation. Due to the pandemic, lot of flights were suspended making the temporary stay of the non-residents in India to extend for the further […]

Understanding the concept of Start-up Valuation

February 6, 2021 2868 Views 0 comment Print

With the world becoming tech savvy a lot of ideas have popped up into the human mind giving birth to a new word in the business sector ‘Start-up’.  Start-up is basically a new company on the very beginning stage of its operations and are often initially financed by the entrepreneurs behind the idea.

Income Tax Relief for home buyers & Real Estate Developers

November 18, 2020 13395 Views 4 comments Print

In a recent press conference conducted by the Hon’ble Finance Minister Ms. Nirmala Sitharaman on 12th November 2020 followed by a press release dated 13th November 2020, Diwali gift for the real estate developers and home buyers was announced in the form of income tax relief where a new amendment was proposed in section 43CA […]

Farewell To Dividend Distribution Tax – Double Edged Reform

August 4, 2020 5397 Views 2 comments Print

One major change that came with the Finance Act is removal of dividend distribution tax making section 10(34), 10(35), 115-O, 115R(2) and 115BBDA of the ITA inapplicable with effect from April 1, 2020. 

ITR-V Form – Small Step, Fatal Non-compliance Consequences

July 16, 2020 3069 Views 2 comments Print

Avoid the fatal consequences of non-compliance with ITR-V form. Learn the three important steps for individual/HUF taxpayers to complete their income tax return.

Income Tax – Due date extensions on 24th June 2020

June 25, 2020 15873 Views 8 comments Print

In order to provide further relief to the taxpayers for making various compliances, the Government has issued Notification No. 35/2020 dated 24th June 2020 amending The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, thereby extending due dates under various provisions of Income Tax Act.

Review of Form ITR-1 SAHAJ (AY 2020-2021)

June 5, 2020 3837 Views 6 comments Print

Article explains list of IT Forms notified for FY 2019-20, Applicability of ITR-1 Sahaj for FY 2019-20, Illustrative list of assessees who are not allowed to submit Form ITR-1 Sahaj for FY 2019-20, Significant changes in ITR-1 (SAHAJ) for FY 2019-20 and Summary of stringent disclosure requirements in ITR-1 (SAHAJ) for FY 2019-20. The Central […]

Section 194M: Additional burden on Individuals/HUFs not liable to audit

December 30, 2019 9738 Views 2 comments Print

Now, a new section 194M has been inserted whereby Individuals/HUFs (not covered under section 194C, 194H & 194J) shall deduct TDS @5% at the time of payment or credit in the books to any resident for:

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