Income Tax Articles

Restriction on Cash Transaction and 10 High value cash Transaction

CAJayprakash Pandey 14 May 2021 at 09:42

This article will help you to solve your problem related to the restriction on cash transaction and the top 10 high value transactions as per the Income Tax Act/GST.

Registration of Trust under Income Tax - Analysis of New Provisions

Manish Harchandani 13 May 2021 at 16:22

The Finance Act, 2020 introduced various amendments related to the registration of Charitable Trust and Religious Trust for availing the exemption u/s 11 and 12 of the Income Tax Act, 1961.

Deductions under Section 37 of the IT Act, 1961

Vidushi Agrawal 13 May 2021 at 11:26

A deduction is an expense that can be subtracted from the taxable income of an assessee to reduce the amount owed as specified in the Income Tax Act, 1961.

New v/s. Old tax scheme under IT act

prerna 12 May 2021 at 17:23

In this article, we have discussed the difference between the New and Old Income Tax Regime under six criteria, in a tabular format.

How to Apply for a Lower Tax Deduction Certificate?

Neethi V. Kannanth 12 May 2021 at 09:45

As per section 197, when the actual tax payable on the income of an assessee is lower than the TDS to be deducted by the payer, then the AO shall grant him a certificate upon the application made by the assessee.

Making the Right Choice between New Tax Regime Vs. Old Tax Regime

CAJayprakash Pandey 11 May 2021 at 10:43

The concept of Old Vs New Tax regime = a dual tax regime was introduced by Finance Act 2020 for FY 2020-21. In this article, we discuss the criteria one should follow while making the right choice between the two regimes.

Relief to Covid Patients only for payment to Hospitals in cash

CA Umesh Sharma 11 May 2021 at 10:04

CBDT has notified all Hospitals, Dispensaries, Nursing Homes, Covid Care Centres, or similar other medical facilities providing Covid treatment to patients for section 269ST so that they can receive cash payments of Rs. 2 lacs or more.

Due date of filing Return of Income

Sagar Devani 10 May 2021 at 09:37

Discussing the due date for filing Return of Income for companies who are required to get their accounts audited, for transfer pricing assesses and for other individuals.

Tax Savings Tips to Reduce Your Tax Outgo

CAJayprakash Pandey 09 May 2021 at 10:18

Tax planning is a part of financial planning. Though it is difficult to avoid taxes, you can strategise to reduce the tax outgo efficiently. Laying out some tips for the same, in this article.

How to file belated ITR for Individual for FY 19-20

CAJayprakash Pandey 09 May 2021 at 10:17

According to the Finance Act 1987 amendment, you can file your Belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY).