Quick glance at new sections inserted in IT Act 1961 with examples
Where any payment is to be made to a non resident, the payer is obliged to deduct at source. As per Section 195 of the Income Tax Act, an obligation on the pers
TDS defaults when amount is payable to a residenti
DISALLOWANCE IN RESPECT OF TDS DEFAULT ON PAYMENT TO NONRESIDENT/FOREIGN COMPANY
The Finance Act 2016 has introduced a new presumptive income scheme for professionals by inserting a new section 44ADA into the Income Tax Act, 1961.
Generally, people invest their hard-earned money in order to enjoy the investment benefits.
What You Must Know New Income Tax Rules?
CBDT press release on Section 269 ST which states that there is no restriction for withdrawal from Bank Deposit is not in consonance with the Section.
If you do not have Aadhaar Linked to PAN, PAN will be deemed to be invalid. Hence, from 1st July, 2017, PAN will go along with Aadhaar in order to be valid.
IT Department has reduced the number of ITR Forms from 9 to 7. ITR-2 will subsume the existing ITR-2, ITR-2A and ITR-3
Arjuna (Fictional Character): Krishna, the Income Tax department has introduced the new forms for filing the income tax Returns in the financial year 2016-17. T
Waiver of interest charged u/s 201(1A)(i) of the Income Tax Act 1961
New ITR form- ITR 1 Sahaj The new ITR form for the AY 2017-18 has been introduced. It is simpler than the previous version and has fewer columns to be filled.
Changes in IT Law from 1st April 2017
As soon as Modi Government resumed power in central on 26/05/2014, on its first day in office, Prime Minister's new government has constituted a Special Investigation Team or SIT to unearth and bring back black money stashed away abroad.
Beyond common is simply the UNCOMMON....
Arjuna (Fictional Character): Krishna, Tomorrow is the festival of Gudi Padwa i.e start of New Year. And it's the last week of financial year 2017. New fina
In an attempt to curb black money, FM Arun Jaitley in his budget speech announced some restrictions on cash transactions. Here is a brief on such amendments.
The season of filing of tax return is here. This year all those who have taxable income are required to file their return.
Some people raise the question 'Why should I pay tax? They argue: I have to pay for my food, for my house, for my travel, for my medical treatment, for owning a
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