Income Tax Articles

Advantages of Filing Income Tax Return ITR Online

Posted by Mohit Singh 30 April 2021 7170 Views

Presentation of e-filing is a big relief for taxpayers. In this article, we discuss some significant advantages that taxpayers enjoy by filing their returns online.

TDS deducted? Be careful if you are filing ITR only with Form 26AS

Posted by Soumya Laha 29 April 2021 18907 Views

If a taxpayer files TDS details in ITR only with Form 26AS details before 31st May, then there is a chance of mistakes. Thus, it is important to wait for Form 16 or Form 16A certificates.

Tax Compliance and Statutory due dates for the m/o May, 2021

Posted by Ishita Ramani 29 April 2021 17531 Views

Here, we have prepared a Compliance Calendar in three parts, Compliance Calendar for GST Returns, Income Tax/PF/ESI Returns and LLP Annual Filing compliances lying in the month of May 2021.

New Tax Regime

Posted by CA Abhay Sood 26 April 2021 15431 Views

The government though has offered lowered tax rates on one hand but has also taken away certain deductions and allowances on the other hand. So taxpayers will have to choose accordingly.

Tax Planning tips for individuals & HUF for FY 2021-22

Posted by FCS Deepak Pratap Singh 26 April 2021 14741 Views

You Can Save Your Taxes By Using Various Exemptions And Deductions Provided By The Government Under Various Provisions Of Income Tax Act,1961. Discussing the same in this article.

Section 194IA | TDS on sale of immovable property

Posted by CA Himanshu Gandotra 26 April 2021 3765 Views

This section intends to cover the Gross receipts/Sale consideration received by the Seller on the sale of immovable property. TDS is to be deduced by the person paying the above consideration i.e. buyer.

TDS on Purchase or TCS on Sale: Hassle?

Posted by CA Udit Gupta 26 April 2021 11300 Views

The predicament arises when the turnover of both the buyer and seller exceeds Rs 10 crores and both are liable to comply under their respective provisions; as the sale and purchase are flipsides of a transaction.

Registration u/s 12A: New Procedure under Income Tax Act

Posted by CA Amrita Chattopadhyay 24 April 2021 8815 Views

The new provisions have removed the concept of perpetuity and have provided that the registration of even existing organizations registered u/s 12A and 12AA would be renewable after 5 years.

A Brief about Form 10A and 10AB as per new Law on Registration of Trust

Posted by CA Harshali Salvi 23 April 2021 14465 Views

Form 10A and 10AB has been prescribed in these new rules for the registration of the Trust U/s 12A & 80G and approval U/s 10(23C) sub-clause (iv) or (v) or (vi) or (via) & 35(1) sub-clause.

Deductions under Section 57

Posted by Ritik Chopra 21 April 2021 70928 Views

The taxable income under the head 'Income from Other Sources' shall be computed after allowing deductions as provided in Section 57 of the Income Tax Act. Discussing such deductions in this article.