A Handbook on “The Process of E-filing of Income Tax Returns”

A Handbook on "The Process of E-filing of Income Tax Returns" Download the File Here Related Tags Incometax 

How to Reduce your Personal Income Tax for Salaried person in India A.Y. 2023-24

The Indian Income Tax Act, 1961 is the primary legislation governing taxation in India. It provides for all aspects of taxation, from levy and...

Large Cash Sales Deposits During Demonetisation – CBDT Will Verify You

Large Cash Sales Deposits During Demonetisation - CBDT Will Verify Businessmen and PSU /Govt Employees under Operation Clean Money Central Board of Direct Taxes (CBDT)...

Income tax rules on winnings from online gaming

Many seasoned gamers across the country were left disappointed when the government banned PUB-G, a multiplayer battle royal game. This isn’t the only game which...

What is capital gains account scheme? How to open an account and Tax Benefits

What is capital gains account scheme? How to open an account and Tax Benefits. Introduction   Whenever any person sell their property, any profit arising from sale...

Gujarat HC Quashes Faceless Assessment Order on Grounds of Non Issuance of Show Cause...

The Gujarat High Court bench of Justice J.B. Pardiwala and Justice Nisha M. Thakore has held that the issuance of a show cause notice...

Bitcoins – Income Tax, GST & International Tax Havens

Taxation of Bitcoins- Income Tax, GST, Tax Havens, Income Tax Return Disclosure and Country Wise Analysis of Tax Structure If you interested to understand the...
Delhi woman gets 6 months jail for failing to file Income Tax Returns on ₹2 crore income

Delhi woman gets 6 months jail for failing to file Income Tax Returns on...

The woman's lawyer argued that she is an uneducated widow and has no one to take care of her. A Delhi Court sentenced a woman...

Ahead of Budget 2023, Finance Minister explains why govt launched optional tax regime with...

Finance Minister was speaking at an event to launch the book 'Reform Nation', authored by Observer Research Foundation Vice President Gautam Chikarmane The government launched...

Will the Income Tax Return Due Date be Extended

Will the Income Tax Return Due Date be Extended ? As you are aware, the Direct Taxes Committee of ICAI has already made a representation...

Allowability of employer’s contribution to funds for the welfare of employees in terms of...

Allowability of employer's contribution to funds for the welfare of employees in terms of section 43B(b) of the Income Tax Act. As per section 43B...

Stay of Demand Under Income Tax Disputes Gets Costlier by 5%

20% of Disputed Demand Now Pre-Requisite for Stay of Demand Under Income Tax Vis a Vis Earlier 15% Instruction No. 1914 dated 21-3-1996 contains guidelines...

S. 234E: High Court grants ad-interim stay against operation of notices levying fee for...

S. 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each...

CBDT Extends Time Limit for Compulsory Selection of Returns for Scrutiny

The time limit for compulsory selection of returns for Complete Scrutiny of cases during the Financial Year 2020-21 from September 30, 2020, to October...

IT Offices Throughout India to Remain Open Today to Facilitate Filing of Returns.

IT Offices Throughout India to Remain Open Today to Facilitate Filing of Returns. As the Financial Year 2011-12 closes on 31st March, 2012 falling on...

Income Tax On Sale of Running Business – Explains Supreme Court

Income Tax On Sale of Running Business - Supreme Court Explains If an undertaking is sold as a running business with all assets and liabilities...
Tax planning before March 31: Do's and dont's for the last-minute tax saver

Tax planning before March 31: Do's and dont's for the last-minute tax saver

Even with increased awareness about tax planning, many people procrastinate until March 31 to make tax-saving investments. This can lead to rushed decisions and...
By Mid-September I.T. Dept. intends to finish all Faceless E-Assessments.

By Mid-September I.T. Dept. intends to finish all Faceless E-Assessments.

Finance Minister Mrs Nirmala Sitharaman announced in her 2019 budget speech about the faceless assessment scheme which was seen as a big leap towards...
Cryptocurrency

Govt Says GST Applicable on Crypto Exchanges and Crypto Liable to Income Tax

"The GST collections specific to cryptocurrencies are not available with the government." Since income from whatever source derived is included in the Income Tax Act,...

ITR Filing 2024: Have new income tax regime as default? You can switch back...

Updated Mar 10, 2024 | 10:24 AM IST ITR Filing 2024: Switch back to old tax regime As we all know, starting from FY 2023-24, the...

CBDT goes for SOP for Prosecution in cases of TDS/TCS Default

STANDARD OPERATING PROCEDURE FOR PROSECUTION IN CASES OF TDS/TCS DEFAULT Introduction: 1.1 As per the Income Tax Act, all cases where TDS/TCS is deducted but not deposited...
ITAT: Long Term Capital Gain Tax (LTCG) does not apply to indirect transfer of Indian Assets

Arms Length Price Decided by ITAT Can be Scrutinized Further

"There cannot be any absolute proposition of law that in all cases where the Tribunal has determined the arm’s length price the same is...
45 Day Rule Made for MSME's Benefit is Hurting MSME's very Badly - Here's Why, How and How to Act for MSME's

45 Day Rule Made for MSME’s Benefit is Hurting MSME’s very Badly – Here’s...

While the government has intended to protect MSMEs and ensure timely payments, this new regulation has raised concerns in the market and has led to...
CBDT: New Rule 2DB & 2DC gets notified

CBDT: New Rule 2DB & 2DC gets notified

The Central Board of Direct Taxes (CBDT) released a notification on 17th August 2020 to makes the Rules 2DB & 2DC amend the Income-tax...

5 Things You Need To Know About ICDS (Income Computation and Disclosure Standards)

By Mohit Jain |  mohitjain.8829@gmail.com | The CBDT had constituted an Accounting Standards Committee in 2010. The committee has submitted its final report in August,...

Disallowance of depreciation by invoking the provisions of section 40(a)(i)

Depreciation Cannot be Disallowed by invoking the provisions of section 40(a)(i) Once the assessee has capitalized the payment in question though the assessee has not deducted the...

NRIs without PAN can manually file Form 10F till March 31, 2023, to avoid...

The Central Board of Direct Taxes (CBDT) has offered one-time relief to non-resident Individuals (NRIs) not having PAN by allowing them to file Form...

India, US sign FATCA to help combat tax evasion

india and the US today signed a tax information sharing agreement under a new US law, FATCA, that will enable automatic exchange of financial...

I-T dept to bring 1 crore new people under tax net this fiscal

The income tax department has launched an ambitious drive to bring under its net one crore new taxpayers after the government recently asked the...

How to file ITR of past years?

ITR filing comes with a due date, if we do not file the ITR within the due date, we can file a belated ITR...