Income Tax Articles

How to File an ITR for FY 2020-21 (AY 2021-22)?

Aishna Kukreja 22 July 2021 at 15:54

Filing of Income Tax Return is a way of declaring the amount of income earned and taxes paid thereupon to the Government. In this article, we will uncover two ways to file an ITR i.e. Online and Offline.

How to Respond to Assessment and Reassessment Notice under Section 148 of the Income Tax Act?

CA Sapna Ghelani 22 July 2021 at 14:16

The notice under section 148 could be issued within a period of 16 years from the end of relevant AY in case the income that has escaped assessment relates to assets located outside India.

Who Should File an Income Tax Return?

Neethi V. Kannanth 22 July 2021 at 09:17

The Income Tax Act provides that a certain category of persons should compulsorily file their Income Tax returns every year within the due date specified. Let us discuss the same through this article.

Compliance Check Functionality for Section 206AB & 206CCA

Ishita Ramani 22 July 2021 at 09:17

A new tax rule relating to TDS and TCS has come into force from 01.07.2021 under which, taxpayers who have not filed their ITRs for the past two FYs shall have to pay a higher tax.

In-depth analysis of Section 115BAC & Form 10-IE

CS Tanveer Singh Saluja 21 July 2021 at 12:13

The introduction of a new tax regime is the biggest development and point of confusion for taxpayers. The FM announced a new set of tax slab rates for individuals, HUFs and co-operative societies.

Relaxation in filing of form 15CA & 15CB

CS Tanveer Singh Saluja 21 July 2021 at 08:52

CBDT has granted relaxation in the filing of forms 15CA & 15CB in view of the difficulties faced by the taxpayers in filing the said forms on the new Income Tax portal. The same can now be filed till 15th August 2021.

TCS Rate Chart for FY 2021-22

CA.R.S.KALRA 20 July 2021 at 16:21

Tax Collected at Source is the tax payable by a seller which he collects from the buyer at the time of sale. In this article, we will discuss the TCS Rates applicable for FY 2021-22.

Rule 8AC of Income Tax Rules

Neethi V. Kannanth 20 July 2021 at 12:27

Rule 8AC deals with the computation of short term capital gains and written down value under section 50 of the Income Tax Act, 1961, where depreciation on Goodwill has been obtained.

Issues of Re-Assessment Proceedings u/s 148 of Income Tax Act

CA Umesh Sharma 20 July 2021 at 09:21

The validity of notices issued after 31.3.2021 has been challenged as these were issued under the old provisions, even though the provisions of section 148 were substituted by the Finance Act, 2021 w.e.f. 01-04-2021.

TDS Rate Chart applicable for FY 2021-22

CA.R.S.KALRA 19 July 2021 at 14:09

Discussing the rate of TDS for FY 2021-22 and AY 2022-23. The TDS rate chart has been updated with all the latest amendments as per the Finance Act 2021.