Income Tax Filing

28

Feb

Clubbing of Income under Income Tax Act

Clubbing of income defines as Income of other person includes in assessee’s total income, for example: Income of husband which is shown to be the income of his child is clubbed in the income of Father and is taxable in the hands of the Father

27

Feb

The most effective method to save tax on Long Term Capital Gain

Capital Asset. Therefore, on a sale of Capital Asset there is no Capital Gain. Before discover how your Capital Gains shall be taxed, do ensure Income Tax considers your asset to be a Capital Gain.

27

Feb

Allowances & Deductions Under Income Tax Act 1961

Deductions refers to claims created to cut back your rateable financial gain, arising from numerous investments and expenses incurred by a payer.

26

Feb

PAN - Where is mandatory to Quote

Similarly, if persons who is required to furnish income tax return or who intend to enter into financial transaction for which it is mandatory to obtain PAN.

26

Feb

Applicability of Form 15CA & 15CB

Applicability of Forms 15CA & 15CB - While any resident make payment to Non- Residents shall deduct TDS on that payment if such sum is chargeable to Income tax then the withholding amount of tax should be declared in Form 15 CA & 15 CB.

22

Feb

CBDT Clarifies TDS on Mutual Fund Dividend

According to the new Budget 2020 proposals, clarification made by the Central Board of Direct Taxes CBDT, Mutual funds or companies shall impose TDS (TAX Deducted at source) to be deducted at the rate 10%

13

Feb

Annual Compliance Checklist for Startups

Are you in the plan of establishing a startup and concerned about various laws to comply with? If yes, don’t worry, we are here to help you with all the Startup compliance.

13

Feb

Deferred Tax Asset and Deferred Tax Liability

In some cases there is a difference between the number of expenses or incomes that are considered in books of accounts of the assessee and the expenses or incomes that are allowed/disallowed as per Income Tax Department.

11

Feb

UDIN Registration, Verification, Requirement - Unique Document Identification Number

UDIN Unique Document Identification Number -The Institute of Chartered Accountants of India (ICAI), has developed a method for verifying the records Issued by a Chartered Accountant by Issuing a Unique Document Identification Number (UDIN)

07

Feb

Dividend Distribution Tax Remove in Budget 2020, Removal Of DDT In Budget 2020

DDT - Dividend Distribution Tax Remove in Budget 2020- The union budget 2020 has proposed to wipe out the DDT system for dividends paid on or after 1 April 2020.

06

Feb

New Income Tax Slabs & Tax Rate in India for FY,AY 2020-21

New Income Tax Slabs & Tax Rate in India for FY 2020-21, Income Tax Slabs and Rates for F.Y. 2019-20(A.Y. 2020-21)(Current FY) & Budget 2020. Income Tax Rates for AY 2020-21.

05

Feb

Corporate Tax Exemption for Companies and Startup India in Budget 2020

Corporate Tax Exemption for Companies and Startup India in Budget 2020It means to those taxes that businesses must compensate as a general part of business operations.

04

Feb

TDS on Sales of Property

TDS has to be deducted when he pays the seller. TDS @ 1% should be deducted by the purchaser of the property at the time of payment of sale consideration.

01

Feb

Income tax Highlights of Union Budget 2020

union budget 2020 highlights income tax - Here are all the key highlights of Union Budget 2020 from Nirmala Sitharaman's. Understand how Union Budget 2020 will impact you, new Income tax slab announcement etc.

21

Jan

No Further Extension For Filing Of Form GSTR-1 - Clarifies CBIC

The CBIC shared an image of the tweet and said, "FORM GSTR-1 late fee waiver scheme has ended on 17th January 2020. No further extension has been given. A fake tweet in this regard has been circulating in social media."

15

Jan

Changes in Income Tax Forms For A.Y. 2020-21

The Central Board of Direct Taxes (CBDT) has notified Income Tax forms – ITR 1 and ITR 4 for A.Y. 2020-2021 well in advance

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