CA Tejas K. Andharia - Page 2

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 |

E-book on In-depth Analysis of ITRs AY 2019-20

It’s my pleasure to publish this e-book on In-depth Analysis of I T Returns AY 2019-20. This e-book is an attempt to summarize the relevant changes in All ITRs except ITR-7. Comments are also given at relevant points regarding logic of introduction or omission of some parts in ITRs.  Some drafting mistakes in ITRs are […]...

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Posted Under: Income Tax |

E-book on Interim Budget – 2019 Analysis with Examples

This E-book / Article Contains following features of Interim Budget – 2019. 1. Standard Deduction and Rebate u/s. 87A 2. Example on Nil Tax for Senior Citizen upto Rs. 7.50 Lakhs Income 3. Example on Nil Tax for Others upto Rs. 7.10 Lakhs Income 4. Example on Extreme Tax Saving upto Rs. 11 Lakhs Income […]...

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Posted Under: Income Tax |

“Minimum Government – Maximum Governance” is just a phrase only & not a reality

When we look this slogan of Minimum Government – Maximum Governance from the perspective of Income Tax law, then also it seems that picture is quite different. In year 2014, when tax audit report format is changed by CBDT and schemas are released very late, many trade and tax consultant associations had opposed it....

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Posted Under: Income Tax |

Changes in ITR-1 to 6 for Financial Year 2017-18 / AY 2018-19

Article discusses changes in ITR 1, ITR 2, ITR 3 , ITR 4 Sugam, ITR 5 and ITR 6 as released by CBDT for Financial Year 2017-18 / Assessment Year 2018-19 vide these changes CBDT has ensured more disclosures from Assessee regarding GST, Financial Particulars, Depreciation, ICDS, Late Fees U/s. 234F, Income from Other Sources, […]...

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Important Changes in ITR-1 of FY 2017-18

The most popular one pager Income Tax return (ITR-1 Sahaj) is continued by the CBDT this year also vide notification no. 16/2016 dated 03rd April 2018.  But there are certain changes regarding eligibility to file this return as well contents of this return which are as under. 1. This year (AY 2018-19 FY 2017-18), only […]...

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Indian Union Budget– 2018 An Analysis of Income Tax Proposals

Income Tax slabs and rate of surcharge are not changed, but cess (additional surcharge) rate is increased from 3% to 4% which is obviously payable on aggregate of income-tax and surcharge. Now only single cess @ 4% called Health and Education Cess is there....

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Posted Under: Income Tax | ,

E-Book on Income Computation and Disclosure Standards

It’s my pleasure to publish this e-book on Income Computation and Disclosure Standards. This e-book is an attempt to summarize the relevant provisions of Income Computation and Disclosure Standards in comparison with provisions of Accounting Standards. Relevant sections of Income Tax Act, 1961 are also discussed at appropriate places....

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Posted Under: Income Tax |

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