Income Tax Articles

Taxation of Cryptocurrencies

Gursimaran Singh Rakhroy 27 July 2021 at 09:07

The current dilemma faced by the government authorities is to come up with an efficient way of taxing cryptocurrencies, which in turn puts the crypto investor community in a jeopardy.

An Insight into Glitches in New Income Tax Portal 2.0 and Solutions

Vaibhav Singh 26 July 2021 at 09:32

Since its launch, the new e-filing portal has been prone to numerous glitches. Such glitches have restricted taxpayers from carrying out any tax-related work and any business transaction which is subject to tax.

Know 10 tax benefits for the amount spent or invested on Children

Tarun Kumar Madaan 26 July 2021 at 09:32

Parents don't think of tax benefits while spending money on their children, however, much of their spending on the children are also eligible for tax deductions.

Prevention Of Money Laundering Act, 2002 | A Brief Analysis

CA Ranganatha Achar K 24 July 2021 at 09:38

Money laundering, in the simplest of senses, is defined as a means or process by which proceeds from criminal activities are disguised in order to hide their illegal origin.

How to File an ITR for FY 2020-21 (AY 2021-22)?

Aishna Kukreja 22 July 2021 at 15:54

Filing of Income Tax Return is a way of declaring the amount of income earned and taxes paid thereupon to the Government. In this article, we will uncover two ways to file an ITR i.e. Online and Offline.

How to Respond to Assessment and Reassessment Notice under Section 148 of the Income Tax Act?

CA Sapna Ghelani 22 July 2021 at 14:16

The notice under section 148 could be issued within a period of 16 years from the end of relevant AY in case the income that has escaped assessment relates to assets located outside India.

Who Should File an Income Tax Return?

Neethi V. Kannanth 22 July 2021 at 09:17

The Income Tax Act provides that a certain category of persons should compulsorily file their Income Tax returns every year within the due date specified. Let us discuss the same through this article.

Compliance Check Functionality for Section 206AB & 206CCA

Ishita Ramani 22 July 2021 at 09:17

A new tax rule relating to TDS and TCS has come into force from 01.07.2021 under which, taxpayers who have not filed their ITRs for the past two FYs shall have to pay a higher tax.

In-depth analysis of Section 115BAC & Form 10-IE

CS Tanveer Singh Saluja 21 July 2021 at 12:13

The introduction of a new tax regime is the biggest development and point of confusion for taxpayers. The FM announced a new set of tax slab rates for individuals, HUFs and co-operative societies.

Relaxation in filing of form 15CA & 15CB

CS Tanveer Singh Saluja 21 July 2021 at 08:52

CBDT has granted relaxation in the filing of forms 15CA & 15CB in view of the difficulties faced by the taxpayers in filing the said forms on the new Income Tax portal. The same can now be filed till 15th August 2021.