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Showing posts from 2020Show All
Income Tax Articles
Understand the Last Date of Filing of ITR and Tax Audit Report and Due Dates for AY 2020-21 after recent Extension of Time Limit
The government has recently extended the time limit to furnish income tax retu…
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Income Tax Circulars
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q4 2020-21
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q4 …
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Income Tax Circulars
CBDT finally Extends Due Date of Tax Audit Report and filing of ITR for AY 2020-21 (FY 2019-20)
After a lot of representations, the government finally extended the due date fo…
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Income Tax Circulars
CBDT Notifies Yamuna Expressway Industrial Development Authority for Exemption under Section 10(46)
CBDT has notified ‘Yamuna Expressway Industrial Development Authority’ (YEIDA)…
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Income Tax Articles
Reduction in Rate of TDS and TCS Notified by Section 197B of Income Tax
Taxation and Other Laws (Relaxation and Amendment of Certain. Provisions) Act,…
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Income Tax Articles
New Registration Procedure under section 12AB Deferred and Extended to April 2021 from December 2020
The new registration procedure prescribed under section 12AB for Charitable T…
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Income Tax Articles
FAQs on LTC Cash Voucher Scheme with Government Orders
The government has announced the LTC Cash Voucher Scheme for Central Governme…
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Income Tax Articles
Is LTC Cash Voucher Scheme Beneficial for Private Sector Employees
While announcing LTC Cash Voucher Scheme on 12th October 2020, the Finance Min…
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Income Tax Case Laws
Karnataka High Court Allows Depreciation on Revalued Intangible Assets Acquired for Consideration upon Conversion of a Firm into a Company
The Bengaluru Bench of the Karnataka High Court in the case of Padmini Product…
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Income Tax Circulars
CBDT Circular on TDS from Salary under 192 for AY 2021-22
CBDT has issued a Circular on TDS from Salary under 192 for AY 2021-22 (FY 202…
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Income Tax Circulars
CBDT issues Circular Clarifying on provisions of the Direct Tax Vivad se Vishwas Act, 2020
CBDT issues further clarification on provisions of the Direct Tax Vivad se Vis…
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Income Tax Articles
All about Due Date for TDS/TCS Payment and TDS/TCS Returns and issue of TDS/TCS Certificates
Any tax deducted by a deductor from the payments made to deductees is like ad…
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Income Tax Circulars
CBDT to Validate UDIN from ICAI portal for Tax Audit Reports
By a press release dated 26.11.2020, CBDT has said that it will validate Uniqu…
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Income Tax Circulars
Income Tax relief for Real Estate Developers and Home Buyers
As part of the AatmaNirbhar Bharat Package 3.0 as announced by Hon’ble Financ…
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Income Tax Articles
Finance Minister announces measures on AatmaNirbhar Bharat 3.0
On November 12, 2020, Union Minister for Finance & Corporate Affairs Smt. …
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Income Tax Circulars
CBDT Condones Delay in filing of Audit Report Form 10BB for Section 10(23C) Institutions from AY 2016-17
CBDT vide Circular No. 19/2020 dated 03-11-2020 issued under section 119(2)…
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Income Tax Articles
Whether 20% Deduction of Interest u/s 57 is on Gross Dividend or Net Dividend after Deduction u/s 80M
Subsequent to the abolishment of Dividend Distribution Tax (DDT) from the stat…
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Income Tax Circulars
CBDT Notifies Abu Dhabi’s SWF MIC Redwood 1 RSC Limited for Tax Exemption u/s 10(23FE)
CBDT vide Notification No. 89/2020 dated 02.11.2020 notified the MIC Redwood…
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Income Tax Circulars
Scheme for Grant of Ex-gratia Payment of Differential Interest for Six Months Loan Moratorium to Borrowers with FAQs
The government had announced on 23.10.2020 the scheme for grant of ex gratia pa…
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Income Tax Circulars
CBDT issues Notification Extending Due Dates for Tax Audit Report and ITRs for AY 2020-21
CBDT vide a press release issued on 24.10.2020 extended the due date for fur…
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Income Tax Circulars
Tax Exemption on LTC Cash Voucher Extended to Private Sector Employees
The government has extended the benefit of Income-tax exemption for the payme…
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Income Tax Articles
Analysis of Deduction u/s 80JJAA for Employment of New Employees
Section 80JJAA of the Income Tax Act, 1961 is a tax incentive for employment g…
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Income Tax Circulars
CBDT issues Clarification on Extended Payment Date under Vivad se Vishwas Scheme
CBDT vide Circular No. 18/2020 dated 28.10.2020 has clarified that where a de…
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Income Tax Circulars
CBDT Notifies Equalisation Levy (Amendment) Rules, 2020
CBDT vide Notification No. 87/2020 dated 28.10.2020 has amended the provisio…
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Income Tax Circulars
CBDT Extended Payment Date for Direct Tax Vivad se Vishwas Scheme without Additional Amount
CBDT vide Notification No. 85/2020 in S.O. 3847(E) issued on 27.10.2020 has e…
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Income Tax Case Laws
Section 50C does not apply to Leasehold Rights in Land or Building- ITAT
ITAT Delhi in the case of Noida Cyber Park Pvt. Ltd. vs. ITO held that assess…
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Income Tax Circulars
CBDT allows Recognised Provident Fund Trusts to Invest in Lower A-rated Instruments
CBDT vide Notification No. 84/2020 dated 22.10.2020 and through Income-tax (…
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Income Tax Circulars
CBDT further Extends Due Date of Tax Audit Report and filing of ITR for AY 2020-21
After various representations to the government finally, CBDT has extended the…
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Income Tax Articles
5% Cash Limit of Receipts and Payments for Tax Audit-Section 44AB
From Assessment Year 2020-21, the turnover limit, for a person carrying on busi…
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Income Tax Circulars
CBDT issues Order for exercising Power of Survey u/s 133A
CBDT issues Order for exercising Power of Survey u/s 133A: CBDT has issued an…
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Income Tax Articles
Is Interest paid on Late Deposit of TDS allowed as Business Expenditure u/s 37
Due to ongoing COVID-19 pandemic and the imposition of nationwide lockdown, m…
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Income Tax Circulars
CBDT Order u/s 119 - Exercising power of intrusive or coercive action for recovery of tax demand
CBDT vide an Order u/s 119 dated 16.10.2020 has restricted the coercive or intr…
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Income Tax Circulars
CBDT Order u/s 119 Assigning the Role of Pr.CCIT under Faceless Appeal Scheme, 2020
CBDT vide its Order u/s 119 dated 14.10.2020 has assigned the role of Pr.CCsI…
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Income Tax Circulars
Revised Jurisdiction Order regarding Equalization Levy
Principal Chief Commissioner of Income-tax (International Taxation) has vide …
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Income Tax Articles
FM Announces tax-free LTC Cash Vouchers, Special Festival Advance and Other Schemes to Boost Demand
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here…
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Income Tax Articles
Interest on Excess Refund of Income Tax - Section 234D
When any refund of income tax is granted to an assessee and later on it is fo…
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Income Tax Articles
Tax Exemption on Transfer of Assets between Holding and Subsidiary Company
Under the existing provisions of section 47 of the Income-tax Act, 1961 (“Act”)…
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Income Tax Articles
Practical Cases on TCS on Sale of Goods Section 206C(1H)
In this earlier article , the issues with the new provisions of TCS on Sale of …
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Income Tax Circulars
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q3 2020-21
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q…
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