What is an Income Tax Return? Income Tax Return is a form in which the taxpayer files information about the income earned and tax payable on such income to the Income Tax Department. Which Income Tax Returns are applicable to an individual? There are 7 forms notified by the department and ITR – 1,2,3,4 are […]
Finance Act, 2020 had introduced provisions relating to TCS on sale of goods u/s 206(1H). Finance Act, 2021 introduced provisions relating to TDS on purchase of goods u/s 194Q to cover those transactions which were left uncovered by section 206C(1H). These amendments have increased the compliance burden for the taxpayer as it impacts the most […]
