Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest amendment in the Income Tax Act 1961 by Notification No. 50/2024 issued by the Ministry of Finance. Detailed an...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...
Q.1 What is the Aim and Object of Black Money Act ? Ans. Aim is to tax undisclosed foreign income and foreign asset acquired from such undisclosed foreign income and to punish the person indulging in illegitimate means of generating money and causing loss to the revenue. Object is to prevent such illegitimate income and […]
Stay updated with the latest tax regulations! Learn about the stringent TDS provisions introduced under the Finance Act 2021.
FAQS on Know TAN Details Q.1 What is TAN? Ans: TAN stands for Tax Deduction and Collection Account Number. It is a 10-digit alpha-numeric number issued by the ITD. Q.2 Who needs to obtain TAN? Ans: TAN must be obtained by all persons responsible for deducting tax at source or who are required to collect […]
FAQs on How to Know Your Assessing Officer (AO) on New Income Tax Portal Q.1 Who is an Assessing Officer (AO)? Ans. An Assessing Officer (AO) is an officer of the Income Tax Department who is responsible for ensuring correctness of Income Tax Returns filed by the taxpayers in his/her jurisdiction. Q.2 When do I […]
Understand the implications of section 206C(1H) & section 194Q of the Income Tax Act 1961. Learn about TCS on sales of goods and its applicability.
Understanding the new amendment under section 206AB of the Income Tax Act. Learn about the format and applicability of this provision for TDS deduction.
DTPA Representation Committee has made a representation to Mrs. Nirmala Sitharaman, Hon’ble Finance Minister on Representation on problems/ issues in new Income Tax Portal. Full text of the same is as follows:- DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. Place West, Ground Floor, Kolkata 700001 Ph 033-22420638 Ref. No. – DTPA/Rep/21-22/27 Date: 16.06.2021 […]
As per the definition of ‘Person’ under section 2(31) of the Income Tax Act, 1961, which includes : (i) an individual, (ii) a Hindu Undivided Family, (iii) a company (iv) a firm, (v) an association of persons or a body of individuals, whether incorporated or not, (vi) a local authority, (vii) every artificial juridical person, not […]
KSCAA have worked closely with multiple stakeholders to understand the issues at hand with respect to New Income Tax E-Filing Portal and made efforts to consolidate the same and enumerating 36 issues and also made few suggestions with respect to new e-filing portal. Please read Full text of the representation to Smt. Nirmala Sitaraman Hon’ble […]
Understanding TDS under Section 194Q of The Income Tax Act. Learn about the new tax provisions and its impact on businesses.
