08 December 2020 at 09:51
The new Form 26AS will have all the information on taxes paid by you, details of pending & completed income tax proceedings, status of income tax refund and demand along with details of specified financial transactions like purchase of shares or property.
An Income Tax Return is a prescribed form in which an assessee declares the income earned and tax paid on such income during a given financial year.
In this article, we discuss some of the key takeaways from the new FAQs issued by the Central Board of Direct Tax on 4th December 2020 on Vivad se Vishwas Scheme, 2020.
Sec 44AB states the provisions related to tax audit of certain entities. Applicability of tax audit u/s 44AB depends on gross receipts, sales, and turnover of an assessee.
In this article, we will discuss the major updates from the Finance and Tax Industry between 29th November 2020 and 5th December 2020.
Understanding the provisions 207, 208, and 209 under the Income Tax Act, 1961 together with analyzing a practical scenario in implementing these provisions.
In this article, we will discuss the provisions of Section 44AA of the Income Tax Act which talks about Presumptive Taxation and its practicality in the finance sector.
On 4th December 2020, the Central Board of Direct Taxes released the second set of FAQs which focuses on the Scope and Eligibility of the Vivad se Vishwas Scheme 2020.
Section 44AD of the Income Tax Act 1961 provides for computing business income on a presumptive basis, which was introduced by virtue of The Finance Act 1994
The provisions of sec 115 BBE of the Act are draconian at first glance and can give nightmares to the assessee. This section erodes the faith of the taxpayer in the IT Law since it is being applied retrospectively from April 2016.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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