Income Tax : Unraveling the anomaly in section 140B of the Income Tax Act, 1961 by CBDT - ITR-U. Delve into the complexities when an updated re...
Income Tax : Article explains Why it seems impossible to report accurate / reliable details in clause no. 44 of Form No. 3CD (Tax Audit Report)...
Income Tax : Debate over ITR date extensions: Is it justified? Explore the reasons behind the annual controversy and possible solutions....
Income Tax : The Common Error of Logic – Section 112 vs Section 111A vs Section 112A of Income Tax Act, 1961. One may consider the follow...
Income Tax : New Income Tax portal had been launched in first week of June-2021. Since then, many stakeholders are facing certain technical iss...
Unraveling the anomaly in section 140B of the Income Tax Act, 1961 by CBDT – ITR-U. Delve into the complexities when an updated return impacts the refund, causing illogical consequences. Explore the need for reconsideration and amendments for a more balanced tax framework.
Article explains Why it seems impossible to report accurate / reliable details in clause no. 44 of Form No. 3CD (Tax Audit Report)
Debate over ITR date extensions: Is it justified? Explore the reasons behind the annual controversy and possible solutions.
The Common Error of Logic – Section 112 vs Section 111A vs Section 112A of Income Tax Act, 1961. One may consider the following simple scenario of an income tax calculation. Resident Senior Citizen <- FY 2020-21 (AY 2021-22) Particulars Amount (Rs.) Pension Income 3,56,676 Interest Income from Bank FDRs 86,198 Section 111A Income 77,417 […]
New Income Tax portal had been launched in first week of June-2021. Since then, many stakeholders are facing certain technical issues. Those rare (may be its not their subject) people who don’t know this may search about this on social media. CBDT has already extended the due dates of filing audit reports and ITRs for […]
Erroneous Adjustments Notices under section 143(1)(a) of Income Tax Act, 1961 and Best Possible Remedy in Some Cases. Many assessees have received erroneous adjustment notices u/s. 143(1)(a). Surprisingly, the issuer of such notices should have concluded that the above mentioned other income or capital receipts should always be the receipts in the nature of business […]
Step by step process of registration for online TDS/TCS return filing and upload 1. First of all, allow the pop-ups in your browser (following is the screenshot of chrome browser). Afterwards, don’t forget to block it again. 2. Now open http://tdscpc.gov.in/ and make login as usual. You will find a link with words “Register at […]
Nowadays, nearly every deductor or collector of tax at source is getting default report/Intimation u/s. 154 of I T Act, 1961 from www.tdscpc.gov.in . Those reports/intimation only say that this is the amount of default which may be due to late fees, interest on short payment, interest on late payment etc.
Section 234B and Section 234C provides for the interest payment, in case non-payment/short payment of advance income tax. But can the Assessing Officer enforce the payment of Advance Income Tax?
This is an Excel Utility with the help of which one can make simple calculations regarding comparative study of Income Tax as per old regime and income tax as per new regime laid down under budget 2020. User is requested to refer to the yellow colored cells of this utility specifically for giving inputs and […]
