FROM 1ST July 2021- NEW TDS PROVISION ON PURCHASES OF GOODS | SECTION 194Q | ANALYSIS OF SECTION 194Q A new provision of TDS is coming into force on the purchase of ‘goods’ with effect from 1st July 2021, under which the buyer of the goods has to deduct TDS from his seller at a […]
1. The Income Tax Department has launched its new e-filing portal https://www.incometax.gov.in On 7th June 2021. 2. The new e-filing portal has a simplified feature to download Form 26 AS. 3. FORM 26AS: Form 26 AS is the most important document required before filing Income Tax Return (ITR). This Form is also known as the […]
Section 206AB changes as applicable from July 1,2021 -Declaration on filing of tax return for past years and linking of PAN with Aadhaar Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at higher rate (i.e., twice the rate as […]
Introduction Recently, there have been multiple amendments and notifications under GST. This leads to difficulty in confirming whether an entity is in compliance with the GST law or not. Some of the recent changes are: -E-invoicing being introduced in a phased manner from October 2020. -Finance Act 2021, having major modifications but not yet notified […]
Palak Agarwal Vs. CBDT & Anr. (Madhya Pradesh High Court) FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT It is well know that Representations by the taxpayers and tax professionals association doesn’t make any difference to CBDT and CBIC and they act only when they receive Instruction from our Courts. 1. A Division Bench of […]
An Auditor’s Tool on Depreciation Calculation- Version 3.0 – Compliant to Schedule II of Companies Act 2013 : Financial Year 2015-16 to FY 2021-22 enabled – FREE Download WHAT IS NEW- in this updated Version 3.0 1. Calculation of Depreciation enabled upto Financial Year 2021-22. 2. Consolidated (Summarised) Fixed Asset Register – enabled upto Financial […]
Learn about the right time to file your income tax return for AY 2021-22 and the required documentation for filing. Don’t miss the deadlines!
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021 Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, […]
Time And Tide Wait for None But Tax collectors Have to Wait This Time The Covid 2.0 has taken a lot of toll and has wreaked Havoc in 2021. The bugle of war between Human Race and the Virus has already been sounded and this is raging like a war for human survival. In this […]
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021 Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, […]
