In recent times, cases of additions of income by respective Income Tax Officers/Assessing Officers have increased substantially.
The countdown to Union budget 2020 has already begun. Considering the state of the Indian economy, the finance minister is expected to unfold measures that give a boost to the economy. People have high expectations from the Union Budget 2020. Here are my suggestions and expectations from Union Budget 2020
e-Assessment - Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment.
The Income Tax department has notified the Income-tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. This article covers all the key changes introduced in the ITR-1 for the assessment year 2020-21
The objective of this article is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments, and updates) in one place. The same are being summarized below.
The year-end 2019 brought to end so many good and bad events or moments we Indians experienced during the year. Some events fade with the onset of the new year, but some continue for life and few such happenings get carried forward to the current year 2020.
The Central Board of Direct Taxes (CBDT) has notified Income Tax forms - ITR 1 and ITR 4 for A.Y. 2020-2021 well in advance. The said forms will be applicable for filing income tax returns for the period April 1, 2019 to March 31, 2020.
As per Section 269SU of the Income Tax Act, every person, carrying on business, shall provide a facility for accepting payment through prescribed electronic modes.
With the last day of the decade and the start of new year, many taxpayers also must have received a letter from Income tax department. I would call it a 'Love letter' :).
You can repay your loan amount to any HFC (Housing finance company) or NBFC (Non-banking finance company) in cash provided each loan installment is less than Rs 2 lakhs.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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