Income Tax Articles

Check your Form 26AS Now Before Filing Your ITR

Posted by CA Umesh Sharma 03 June 2024 2870 Views

All the deductors have filed their TDS returns for FY 23-24 by May 31, 2024. Now, what are the responsibilities of deductees before filing their ITR?

ITR Forms: A Comprehensive Overview

Posted by CA Anoop Kumar Sharma 03 June 2024 1321 Views

There are notified 7 types of ITRs, i.e., ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, and ITR-7. To date, we have discussed all ITRs one by one and compiled all the details regarding them in this article.

Why you should wait until 15th June 2024 to file your ITR

Posted by DSC Sign 01 June 2024 4863 Views

Although the IT forms are available, individuals who are salaried should wait to file their returns until June 15, 2024, according to a report by ITD. This is because their Annual Information Statements (AIS) and Form 26AS are typically fully updated by May 31, 2024, and companies have time to issue employees Form 16 by June 15, 2024.

Due Date Calendar for June 2024

Posted by DSC Sign 01 June 2024 2501 Views

We have given the important statutory due dates for various compliances applicable for June 2024.

A Deep Look with a Common Man's Eye at Section 6 of the Income Tax Act

Posted by CA. Bhavik P. Chudasama 01 June 2024 753 Views

Understanding your residential status for tax purposes is crucial in India. For individuals and entities operating in the ever-evolving tax landscape of India, determining residential status is paramount. Section 6 of the Income Tax Act, 1961, serves as the cornerstone for navigating this crucial aspect.

Detailed Breakdown of Incomes and Expenses in AIS Reporting

Posted by Priya Mulukutla 31 May 2024 4663 Views

57 types of incomes and expenses to be reported in the Annual Information Statement (AIS) on the Income Tax portal notified by CBDT.

Redevelopment of society: Tax implications

Posted by Affluence Advisory 31 May 2024 1648 Views

Redevelopment of society means tearing down an existing oneone and building a new one in place of it. it. Simply put, it isa reconstruction a reconstruction of the existing residential and/or commercial structure.

Big reminder from Income Tax department

Posted by Mitali 29 May 2024 3294 Views

Income Tax Department has issued reminder for taxpayers and the same has also been shared on X (formerly Twitter).

All About Form 10BD under Income Tax Act

Posted by Poojitha Raam Vinay

29 May 2024 1065 Views

Finance Act 2021 introduced an amendment where the trusts had to file a statement of donations received in each financial year as per section 80G(5)(viii) and as per section 35(1A)(i).

Political Party Taxation

Posted by CA Anoop Kumar Sharma 28 May 2024 1183 Views

Let's break down the rules for how political parties are taxed by CG. Basically, if a political party meets four specific conditions, all income earned is tax-free income.