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.
CPC has started to process Income Tax Returns from 23rd November 2020. So, if you filed and verified your ITR successfully, your ITR will be processed soon.
It is important to plan your month so that you don’t miss any due dates. In this article, we discuss all the due dates under all the acts that lie in the month of December 2020.
The Finance Act 2020 has expanded the scope of equalization levy by introducing Section 165A. Through this, the levy has been extended to non-resident ECO supplying goods and services online.
The Gift Tax was reintroduced in a new form to fill up the vacuum created by the abolition of the Gift tax Act, 1958, and the provisions were included in the Income-Tax law w.e.f. 01.04.2005.
Speculative transaction means a transaction involving a contract for the purchase and sale of commodities, which is periodically or ultimately settled other than by actual delivery or transfer.
Cash to the economy is like what blood is to the human body. The government can introduce various ways to restrict its usage, but it cannot pull it out of the system.
U/s 194-O w.e.f from 1st Oct 2020, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant,
In this article, we discuss the extrapolation technique in the Income Tax Search and Seizure Assessments and how there is no universal application regarding it...
Finance Act, 2020 has made changes with respect to the provisions related to Trusts and NGOs claiming exemption u/s 11 or u/s 12 of the Income Tax Act, 1961. Let us understand those changes.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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