GEARING UP FOR ASSESSMENT YEAR 2020-21 & SUBSEQUENT ASSESSMENT YEARS
Posted Date : 22-Jun-2020 , 08:47:41 pm | Posted By
Supriya Dewan
GEARING UP FOR ASSESSMENT YEAR 2020-21 & SUBSEQUENT ASSESSMENT YEARS
BACKGROUND: This article shall provide an insight into changes in Income tax forms, additional disclosures required by income tax department and main considerations while filing Income tax returns. It is advisable for u...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1047 |
 |
HOW TO MAINTAIN FINANCIAL HEALTH DURING COVID-19
Posted Date : 25-May-2020 , 10:01:01 pm | Posted By
Supriya Dewan
HOW TO MAINTAIN FINANCIAL HEALTH DURING COVID-19
BACKGOUND: The whole world economy is expecting an uncertainty and hardship because of the unprecedented COVID 19 pandemic. There has been a slump in stock markets, failures in reviving businesses, catastrophic impact on workings hours and earni...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1373 |
|
OPPORTUNITY IN CHAOS: THE ERA OF STARTUPS AND INNOVATION
Posted Date : 20-May-2020 , 09:50:49 pm | Posted By
Supriya Dewan
OPPORTUNITY IN CHAOS: THE ERA OF STARTUPS AND INNOVATION
BACKGROUND:
The COVID 19 pandemic persists to be a health and human crisis, but the impact on business organisations is sagacious. Amidst this crisis, the major focus of Government is on promotion of start-ups as they are much more flexible,...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1346 |
|
Dividends - No longer Tax Exempt?
Posted Date : 09-May-2020 , 02:34:52 pm | Posted By
CA (CS) Ujjwal Jindal
In India, there are numerous instruments available for an investor wherein he can park his fund and reap a bonus/reward. Depending on the type of instrument, this bonus/reward has been named differently. When the investment instrument is debt, the bonus/reward is termed as interest and when it is eq...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1172 |
|
Recovery of Outstanding Tax Demand- Resources with the assesse
Posted Date : 05-May-2020 , 11:57:10 am | Posted By
CA MUKESH KABRA
RECOVERY OF OUTSTANDING TAX DEMAND Month of February is the Valentine month and everyone in this world must grapple with their respective valentine. Taxman will also be busy with their valentine i.e. Recovery of the tax arrears whereas tax practisoners will also be busy with their valentine i.e. Pr...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1294 |
|
Decoding of section 115BAB
Posted Date : 05-May-2020 , 11:54:55 am | Posted By
CA MUKESH KABRA
DECODING OF SECTION 115BAB It is said that a person feels joyous and happy when something unexpected positively happened in one’s life but on other hand unexpected kindness showered on them by almighty God also frightened one’s inner soul simultaneously from an unexpected fear that what ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1089 |
|
Agriculture Income Under Income Tax
Posted Date : 05-May-2020 , 11:49:41 am | Posted By
CA MUKESH KABRA
Agriculture Income under Income Tax Income Tax have various contentious issues despite being one of the oldest Law of the Land. On these issues assesse and revenue used to loggerhead each other on various form of Authorities. Taxation of AGRICULTURAL INOCME is also one of such contentious issue. One...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1335 |
|
Check List and procedure for Registration under U/S. 12A & 80G of Income Tax Act, 1961
Posted Date : 04-May-2020 , 04:46:36 pm | Posted By
CA Sandeeprawat
Check List and procedure for Registration under U/S. 12A & 80G of Income Tax Act, 1961 Section 10(23C), inter alia, exempts income received by any person on behalf of university, or other educational institution or any hospital. Section 11 provides exemption in respect o...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 930 |
|
FCRA REGISTRATION -Brief
Posted Date : 04-May-2020 , 04:20:29 pm | Posted By
CA Sandeeprawat
Why FCRA REGISTRATION -Brief Whenever any NGO either in the form of Trust, Society or Section 8 company is willing to receive any kind of foreign contribution or donation, they are required to obtain FCRA Registration under Section 6 (1) of Foreign Contribution (Regulation) Act, 2010. Irrespective ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 608 |
|
ANALYSIS OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020
Posted Date : 01-Apr-2020 , 02:38:17 pm | Posted By
ATUL KHURANA
Dear Readers, You might have heard/read about the Vivad Se Vishwas Scheme in the Budget 2020 which is intended to reduce or simplify the litigations under which an assessee is not required to pay heavy penalties and interests in case of any pending dispute with the department. Only pending tax amoun...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1291 |
|
Non Residents taxation on shipping business read with section 172 of the income tax act, 1961
Posted Date : 10-Mar-2020 , 09:09:27 pm | Posted By
Akash Dhanuka
Presumptive taxation scheme for shipping business
1) " Presumptive" means to presume the income...
it means even if the actual income earned is differ , in that case also the income shall be calculated on the presumptive basis provided the conditions specified therein are satisfied..
...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1939 |
|
TCS ON FOREIGN TRAVEL, TOURS PACKAGES, REMITTANCE RULES 2020
Posted Date : 24-Feb-2020 , 11:48:18 am | Posted By
CA. PIYUSH KAPOOR
INTRODUCTION The government imposed a tax collection at source akin to TDS on remittances — after an internal survey by the income tax department, showed that a large number of those sending out money had not filed income tax returns. The finance bill 2020 has proposed an amendment to ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1738 |
|
How to apply for instant PAN card online
Posted Date : 22-Feb-2020 , 09:39:06 am | Posted By
May I Help You.
1) Visit the income tax department's e-filing portal and click on "Instant PAN through Aadhaar" section under "Quick Links" on the left side. 2) Click on "Get New PAN" on the new page. 3) Enter your Aadhaar number for allotment of new PAN card and the Captcha code to generate an OTP on your Aadhaa...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1535 |
|
Summary of Direct Tax Proposals in Union Budget 2020
Posted Date : 02-Feb-2020 , 07:09:49 pm | Posted By
ATUL KHURANA
Dear Readers,
Here I am presenting the simplified and summarized version of Direct Tax Proposals in Union Budget 2020 presented by Honorable Finance Minister of India on Feb 1, 2020. This article will help you to grasp the new insertions/amendments without going into the depth of each and every se...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 2010 |
|
Section 270 A Penalty for underreporting or misreporting of income
Posted Date : 08-Jan-2020 , 07:22:29 pm | Posted By
Akash Dhanuka
Section - 270AA, Income-tax Act, 1961 Immunity from imposition of penalty, etc. 270AA.
(1) An assessee may make an application to the Assessing Officer to grant immunity from imposition of penalty under section 270A and initiation of proceedings under section 276C&n...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 3335 |
|
Policy of Empanelment of CA Firms/LLPs and Selection of Auditors
Posted Date : 06-Jan-2020 , 10:03:26 am | Posted By
May I Help You.
A. Empanelment of CA firms/LLPs Chartered Accountant firms (firms) and Limited Liability Partnerships (LLPs) in India with at least one full time [1] FCA (Partner/Sole Proprietor) can apply for empanelment with this office for the purpo...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 4838 |
|
Taxation of land or building or both certain issues.
Posted Date : 06-Jan-2020 , 12:06:40 am | Posted By
Akash Dhanuka
Taxation of land or building or both under income tax act, 1961 certain issues..
1) Normally, there are two types of transaction that prevailed in the transfer of land or building or both. One is transfer made for some consideration and other is without consideration which is generally term...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1876 |
|
General notes on return us 139(3)
Posted Date : 04-Jan-2020 , 10:22:16 pm | Posted By
Akash Dhanuka
General notes on Return of losses us 139(3) followed by chapter VI consisting of section 70 to 80.
1) if the assessee consisting of any losses , the loss return shall be filled us 139(3).
2) for company and firm it is mandatory to filled their return even in the cases of losses.
...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1694 |
|
Problems if ITR not filed with in Due Date (31.08.2019)
Posted Date : 30-Jul-2019 , 09:02:46 am | Posted By
Lalit Rajput
Disadvantage/Problems of Not Filing ITR with in Due Date
WHAT HAPPENED IF ITR (INCOME TAX RETURN) NOT FILED ON OR BEFORE DUE DATE Due date extended from 31.07.2019 to 31.08.2019
ITR Filing
After the end of a financial year, earning individual and entities need to calculate total i...
Continue Reading...
Category : Income Tax |
Comments :
1 | Hits : 3905 |
|
New Regime of Taxation of Long Term Capital Gains on sale of equity share, unit of equity oriented funds and unit of the business trust u/s 112A of the Income Tax Act, 1961
Posted Date : 12-Jun-2019 , 10:46:03 am | Posted By
Megha
The Finance Act, 2018 has withdrawn the exemption under section 10(38) of the Income-tax Act, 1961 and has introduced a new section 112A in order to levy long term capital gain tax on the transfer of a long term capital asset being an equity share in a company or a unit of an equity oriented funds o...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1372 |
|
|
