India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc
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 : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
Income Tax : Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert ana...
CA, CS, CMA : Stay compliant with tax obligations in May 2024. Check the due dates for income tax, GST, PF, ESI, and more. Get organized with th...
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- Sunday�...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...
Income Tax : CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2...
Income Tax : Explore the impact of book acceptance or rejection on taxation with insights into grounds for rejection and factors favoring accep...
Income Tax : Kerala High Court overturns rejection of Snehatheeram Charitable Trust's application for 80G certificate under Income Tax Act, 196...
Corporate Law : Karnataka High Court considers income variations in compensation assessment. Detailed analysis of Jayashree Vs Mahaningappa & Othe...
Income Tax : ITAT Delhi's order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, c...
Income Tax : Explore the Coastal Ceramics vs Union of India case where AP High Court rules that an interest-free refundable security deposit fo...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...
Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...
Income Tax : Notification 88/2024 amends Income Tax regulations, extending the deadline from March 31, 2024, to March 31, 2025. Updated by CBDT...
TO WHOMSOEVER IT MAY CONCERN Reference : Communication on section 206AB of the Income Tax Act, 1961. Subject : Confirmation of Turnover, Pan and Income Tax Return Filing details for the purpose of determining rate of Tax Deduction at Source/Tax Collection at Source Dear Sir/M’adam, We, ‘XYZ Private Limited’ do hereby confirm that we have […]
It is for the very first time that purchases are proposed to be subject to TDS, the provisions of TDS on purchases were recently introduced vide the Finance Act, 2021 through the insertion of section 194Q. TDS on purchases is similar to other TDS provisions, except for the fact that the rate of TDS is […]
TDS/ TCS on Non- filers of ITRs at Higher Rates U/s 206AB and 206CCA of the Income Tax Act, 1961 (effective from 01.07.2021). Article contains Analysis of Section 206AB, Analysis of Section 206CCA, Sample format of Declaration To Be Obtained From Parties For Not Imposing Higher TDS/ TCS Rates As Per Section 206AB/ 206CCA of […]
Department introduced the TCS on sales of goods by introduction of section 206C(1H) w.e.f 1st Oct-2020. Thus bringing the goods under the ambit of TCS. They did not stopped here and went a step further and proposed to introduce TDS on goods by introduction of section 194Q w.e.f from 1st July-21. Thus drastically changing the […]
The Finance Act 2021 brought a new re-assessment procedure in respect of an income which has escaped assessment and also in survey, search and seizure cases. In this brief write up I will confine myself only to the impact of new provisions on cases where survey U/S 133A is conducted after 01/04/2021. The Explanatory Memorandum […]
Finance Act 2020 had amended section 206C of the Income-tax Act 1961 by inserting a new subsection (1H) which says that the seller is required to collect the tax if the sale of goods to buyers exceeds Rs.50 lakhs. Finance Act 2021 inserted a new section 194Q which says that the buyer is required to […]
We are listing around 38 issues in portal and this is the beginning only because still we are working on preliminary aspects and further issues are bound to arise when we start working with the Portal and make Tax Compliances on behalf of our clients, the valued Tax Payers of the Nation.
fter launching of the website by the Income Tax Department on 07th day of June, 2021 the members are facing the problems as discussed below:- 1. DSC is not getting registered or updated, 2. New Incorporated companies or Firms are not able to register themselves on ITD Portal ,
Undertaking pursuant to Section 206AB and Section 206CCA of the Income Tax Act, 1961 To, (NAME OF THE BUYER/ SERVICE PROVIDER) Dear Madam/Sir, Subject: Declaration confirming filing of Income Tax Return for immediate two preceding years This is in respect to payments due or payments to be made to us for Financial Year 2021-22 (period […]
The Income Tax Department launched the new completely revamped Income Tax Website 2.0. Now, there is a lot of discussion on the social media whether this update was really required or not or regarding the multiple issues which everyone is facing. The old website was project was proposed in 2006 and launched sometime in 2007. […]
