Income Tax Articles

Exemption Under Section 54GA

Neethi V. Kannanth 30 April 2021 at 09:47

Section 54GA provides for an exemption from capital gain arising on the transfer of a capital asset used for the purpose of business in an industrial undertaking situated in an urban area to an industrial undertaking situated in any SEZ.

Advantages of Filing Income Tax Return ITR Online

Mohit Singh 30 April 2021 at 09:47

Presentation of e-filing is a big relief for taxpayers. In this article, we discuss some significant advantages that taxpayers enjoy by filing their returns online.

TDS deducted? Be careful if you are filing ITR only with Form 26AS

Soumya Laha 29 April 2021 at 09:53

If a taxpayer files TDS details in ITR only with Form 26AS details before 31st May, then there is a chance of mistakes. Thus, it is important to wait for Form 16 or Form 16A certificates.

Tax Compliance and Statutory due dates for the m/o May, 2021

Ishita Ramani 29 April 2021 at 09:53

Here, we have prepared a Compliance Calendar in three parts, Compliance Calendar for GST Returns, Income Tax/PF/ESI Returns and LLP Annual Filing compliances lying in the month of May 2021.

New Tax Regime

CA Abhay Sood 26 April 2021 at 16:48

The government though has offered lowered tax rates on one hand but has also taken away certain deductions and allowances on the other hand. So taxpayers will have to choose accordingly.

Tax Planning tips for individuals & HUF for FY 2021-22

FCS Deepak Pratap Singh 26 April 2021 at 09:44

You Can Save Your Taxes By Using Various Exemptions And Deductions Provided By The Government Under Various Provisions Of Income Tax Act,1961. Discussing the same in this article.

Section 194IA | TDS on sale of immovable property

CA Himanshu Gandotra 26 April 2021 at 09:44

This section intends to cover the Gross receipts/Sale consideration received by the Seller on the sale of immovable property. TDS is to be deduced by the person paying the above consideration i.e. buyer.

TDS on Purchase or TCS on Sale: Hassle?

CA Udit Gupta 26 April 2021 at 09:44

The predicament arises when the turnover of both the buyer and seller exceeds Rs 10 crores and both are liable to comply under their respective provisions; as the sale and purchase are flipsides of a transaction.

Registration u/s 12A: New Procedure under Income Tax Act

CA Amrita Chattopadhyay 24 April 2021 at 13:03

The new provisions have removed the concept of perpetuity and have provided that the registration of even existing organizations registered u/s 12A and 12AA would be renewable after 5 years.

A Brief about Form 10A and 10AB as per new Law on Registration of Trust

CA Harshali Salvi 23 April 2021 at 09:59

Form 10A and 10AB has been prescribed in these new rules for the registration of the Trust U/s 12A & 80G and approval U/s 10(23C) sub-clause (iv) or (v) or (vi) or (via) & 35(1) sub-clause.