The ministry of corporate affairs (MCA) has notified The Companies (Accounting Standards) Amendment, Rules 2021 on 23rd June 2021. These Rules came into effect from 23rd June 2021.
Studying finances is challenging, as you have to work on volumes of data and keep many details in your head. Students who strive to become proficient financial specialists and obtain a position of financial analyst, forecaster, or controller have to deal with challenging tasks during their college years.
RBI has recently issued a Circular by which it released Quick Insight of Income-tax implications for Financial Year 2021-22 detailing the various tax implications for the current financial year, in accordance with the amendments made in the Finance Act, 2021. Full Text of the same is as follows:- Finance Act, 2021 The Honourable Finance Minister […]
Understand the implications of TDS Section 206AB and Section 206CCA of the Income Tax Act, 1961. Learn about the higher TDS rates and how they apply to specified persons.
Practical FAQs for Implementing the provisions of Section 206AB (TDS) and Section 206CCA (TDS) w.e.f. 1st July 2021 In order to tighten the grip on non-filers of Income Tax Returns, Finance Act, 2021 has introduced Section 206AB and 206CCA to the Income Tax Act, 1961. Section 206AB provides for deduction of tax at higher rate […]
Upload Income Tax Forms – FAQs Q.1 How can I access the category of Income Tax Form applicable to me for filing? Ans. Under the Income Tax Form Options in the e-File menu, you will be presented with a category list of all available Income Tax Forms with short descriptions. Choose the form(s) that are […]
FAQs on How to use offline utilities to file Income Tax returns (ITR) Q.1 Who can use the ITD’s offline utilities to file returns? Ans. All persons eligible to file ITR can download the offline utilities for ITRs and use them to file returns. Q.2 What is new about the ITD’s offline utility in AY […]
ITR status shows the current status/stage of your filed ITR. Once your ITR has been filed, you may check if it has been accepted and processed by the Income Tax Department. In certain cases where some discrepancies are found, you may need to respond to the communication from the ITD. Hence, it is advisable to periodically check your ITR status.
FAQs on How to e-Verify Income Tax Return (ITR) Q.1 Why do I need to e-Verify? You need to verify your Income Tax Returns to complete the return filing process. Without verification within the stipulated time, an ITR is treated as invalid. e-Verification is the most convenient and instant way to verify your ITR. You […]
How to Add/Remove/Validate Demat Account on new Income Tax Portal- FAQs Q.1 Can I enable EVC for multiple demat accounts? Ans. No. EVC can be enabled for only one demat account at any point of time. If you try to enable EVC for another demat account, then you will receive a message to disable EVC […]
