income tax

Income Tax have various contentious issues despite being one of the oldest Law of the Land. On these issues assesse and revenue used to loggerhead each other on various form of Authorities. Taxation of AGRICULTURAL INOCME is also one of such contentious issue. One of the main reason for various dispute on Agriculture Income is attribute ...

The Amendments made to the Income Tax Act in respect of Individual , HUF , Domestic Companies for Assessment Year  2020-21 , Previous Year 2019-20 by way off. 1. The Finance Act 2019 2. The Finance Act (No.2) 2019 3. The Tax Ordinance Act 2019 4. The Taxation and Other Laws (Relaxation of Certain Provisions) […]...

As we aware that, lots of times we faced may difficulties regarding E-filing, refund, rectification, etc but we usually avoid to complaint against it thinking in a way that the process is very much lengthier or tedious and hence Income tax Department has been come up with solution to our this problem which is called […]...

Provisions of section 10(2A) of the Income Tax Act exempts share of profit received by a partner in the total income of the partnership firm/LLP. The main objective of granting the exemption,under section 10(2A) to the share of profit received by the partner, is the avoidance of double taxation. The present article meticulously explains t...

VIVAD SE VISHWAS SCHEME 2020 Settle your Income Tax disputes by 31st March, 2020 to avail higher benefits Eligibility For Vivad Se Vishwas Scheme 2020 Appeals/writs filed on or before 31.01.2020 and pending Orders for which time for filing appeal has not expired on 31.01.2020 Cases pending before Dispute Resolution Panel (DRP) on 31.01.20...

Provisions of section 54EC provide exemption towards long term capital gain arisen on the transfer of land or building or both when the amount is invested into the specified bonds. The present article briefly explains the provisions of section 54EC of the Income Tax Act. Understanding basic provisions of section 54EC of the Income Tax [&h...

In the Union Budget 2020 it is proposed to widen the provisions for levy of TCS (Tax Collected at Source).  The foreign tour operator will be liable to collect tax (TCS) u/s 206C (1G) from the passenger of such tour package @5% (@10% if PAN/Aadhar of passenger is not available) over and above the cost of his tour package....

Department has introduced e-Nivaran to address all the grievances received through various channels under single window. e-Filing portal has been enabled to receive and address all the grievances. Through e-Nivaran taxpayers can submit grievance in respect to AO, NSDL, UTISL, CPC-ITR, E-filing Website team, CPC-TDS, Directorate of Systems...

In this Article we update you about the Income tax slab rates applicable to different types of taxpayers such as Individual, HUF, Partnership Firms, AOP/BOI, Co-operative Society, Local authorities, Domestic as well as Foreign Companies, etc for assessment year 2020-21 i.e. financial year 2019-20. Articles compiles Income Tax Rate Chart f...

1. Introduction Section 148 of the Income Tax Act, 1961 is a complete code in respect of the powers conferred with the jurisdictional assessing officer to step into the assessment/reassessment proceedings. In addition, section 148 embodies and inherently carries with it the layers of riders attached primarily falling in nature of the time...