CA Tejas K. Andharia

Common Error of Logic – Section 112 vs Section 111A vs Section 112A

Income Tax - 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...

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Is a writ petition or SLP a solution to reinstate previous income tax portal?

Income Tax - 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 […]...

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Erroneous Section 143(1)(a) Adjustments Notices & Best Possible Remedy

Income Tax - 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 receip...

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Registration process for online TDS/TCS return filing & upload

Income Tax - 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 [&helli...

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TDS- How to download Justification report?

Income Tax - 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....

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Recent Posts in "CA Tejas K. Andharia"

Common Error of Logic – Section 112 vs Section 111A vs Section 112A

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...

Read More
Posted Under: Income Tax |

Is a writ petition or SLP a solution to reinstate previous income tax portal?

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 […]...

Read More
Posted Under: Income Tax |

Erroneous Section 143(1)(a) Adjustments Notices & Best Possible Remedy

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 receip...

Read More
Posted Under: Income Tax |

Registration process for online TDS/TCS return filing & upload

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 [&helli...

Read More
Posted Under: Income Tax | ,

TDS- How to download Justification report?

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....

Read More
Posted Under: Income Tax |

Can Assessing Officer enforce payment of Advance Income Tax?

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? ...

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Posted Under: Income Tax | ,

Excel Utility to Compare Income Tax | Old & New Regime | Budget 2020

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 […]...

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Posted Under: Income Tax |

Comparative Study of Old and New Regime of Income Tax Slabs

Comparative Study of Old and New Regime of Income Tax Slabs- In Budget-2020 proposals, new section 115BAC is proposed to be inserted w.e.f. AY 2021-22.  Some of the salient features of which are as under. 1. It is optional. 2. It is for Individual and HUF only. 3. It is subject to other special rates […]...

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Posted Under: Income Tax |

Legal validity of newly inserted schedule in ITR-4 SUGAM of AY 2020-21?

Question on legal validity of newly inserted schedule in ITR-4 SUGAM of AY 2020-21 As we know, Schedule regarding ‘Financial Particulars of Business’ has been removed from ITR-4 SUGAM of AY 2020-21. And new schedule titled as ‘Particulars of Cash and Bank Transactions Relating to Presumptive Business’ has been inse...

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Posted Under: Income Tax |

E-Book on Union Budget 2019 – Analysis of Income Tax Proposals

Like every year, I am glad to present you an E-book on ‘Union Budget -2019 An Analysis of Income Tax Proposals for Layman as well Tax Practitioners’.  This e-book contains proposals of this budget and in addition to that references to relevant sections, sub-sections, clauses, sub-clauses, provisos etc. which are inserted or s...

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Posted Under: Income Tax |

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