New Income Tax Returns Forms for the F/Y 2019-2020 (A/Y 2020-2021) have been notified by the CBDT on 29th May, 2020. Know the changes made in the ITR Forms.
IMPORTANT ANNOUNCEMENT REGARDING FORM 26ASWHAT IS FORM 26AS?Form 26AS statement is a summary of all the tax paid, TDS, TCS, Advance tax paid during the financia..
The facility for instant allotment of PAN Card through Aadhaar based e-KYC is now available on the Income Tax website.
The instant allotment of PAN through Aadhaar based e-KYC has been launched by the FM. This facility provides PAN in near to real-time basis.
Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions.
I propose a suggestion to have a Corona Relief Fund and appeal for donation even Rs 1000. I also propose a new kind of tax credit for the next 6 years on this donation.
Though the govt had made retrospective amendment in law but it will not be at par with the legal rights of the tax payer. The government had to inserted sub rule 1A under rule 117 owing to the technical difficulties on common portal faced by the taxpayers. Had it not been an issue, no need would have aroused for extending the due date.
We have all been so caught up with the multiple announcements coming from the government that we have almost forgotten how the Finance Act 2019 changed the tax payments for the FY 2019-20. Here are the taxes that you shall pay in the FY 2019-20
In such case the cancellation of registration of trust under section 12AA by the Commissioner of Income tax is not required and even if commissioner of income tax has not cancelled the registration under section 12AA for such previous year, exemption under sec 11 & 12 shall not be allowed.
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