Income Tax Articles

Whether the condition of pre-deposit of 20% tax is a mandate for entertaining stay application per se?

Adv. Ravish Bhatt, ADIT, CIOT 05 September 2022 at 10:11

In terms of modified instruction No. 1914 dated 21.03.1996 issued by CBDT, payment required to be made by the assessee as a precondition for stay of demand disputed before CIT(A) is 20%.

FAQs - Clause 44 in Form 3CD under Section 44AB of the IT Act 1961

Nitin Bhuta 03 September 2022 at 10:28

The author has made the attempt to present this article in FAQ format by curiously and incisively watching and analysing, threadbare, the insightful discussions pertaining to clause 44 reporting in Form 3CD for the benefits of all the readers of this article.

How To File an Appeal Before Commissioner of Income Tax?

Taxblock 03 September 2022 at 08:54

Any person or an assessee who is aggrieved by an order of an Assessing Officer (AO), can file an appeal against the order before the Commissioner of Income Tax (Appeals) by submitting Form 35 online on the Income tax e-Filing portal within 30 days from the date of service of order or demand.

Tax Compliance Tracker for the m/o September 2022

CS Lalit Rajput 02 September 2022 at 08:51

The author lists down Tax Compliance Tracker for the m/o September, 2022

Due date Compliance Calendar for the month of September 2022

Neethi V. Kannanth 01 September 2022 at 08:45

Income Tax and GST Compliance Calendar for the month of September 2022

Guide to follow when income tax refund gets adjusted with prior outstanding demands

Taxblock 01 September 2022 at 08:45

Section 245 of the Income Tax Act empowers the Income tax department to adjust any amount of refund due to the assessee with any previous outstanding tax liability.

Taxability of PF contribution

Neethi V. Kannanth 31 August 2022 at 12:30

There are different types of provident funds from which a person can choose from for the purpose of investment or regular savings for retirement. They are discussed in detail in this article.

8 Benefits of Having Insurance Policy

Taxblock 31 August 2022 at 08:40

Insurance is a contract of indemnity in which an individual or entity receives to hedge against the risk of financial losses from an insurance company from damage to the insured property, or from liability for damage or injury caused to a third party.

Claiming DTAA Relief? File Form 10F

Neethi V. Kannanth 30 August 2022 at 08:51

If you are one of those who are claiming DTAA relief then you must be aware that you are required to file Form 10F as per sub rule 1 of Rule 21AB. CBDT through Notification No. 3/2022 dated 16 July,2022 has mandated filing Form 10F electronically. Let us understand why this Form 10F is required to be filed in detail.

PPF: Savings cum tax saving investment and its latest rules

FCA surbhi jain 27 August 2022 at 14:42

PPF is one of the best long term investment options with attractive rate of interest and returns on investment for the individuals who have low risk appetite. It can also be called as savings cum tax savings investment option to save taxes and earn guaranteed returns.