Income Tax Articles

Avoid Exceeding This Limit in Mutual Funds, Bank FDs, and Cash Deposit, Otherwise, You May Get a Notice of Income Tax

Kapil Rana 27 May 2021 at 09:42

Cash transactions and digital deposits are closely monitored by the IT Department, and if you invest more than Rs 10 lakh in mutual funds, stock market, bonds, or debentures, your chances of receiving a notice increases.

Extension of Income Tax Due Dates

CA Umesh Sharma 27 May 2021 at 09:42

CBDT has issued a circular on 20.5.2021 for an extension of due dates for various returns and compliances under the Income Tax Act. Let us discuss the extended due dates.

Income Tax Benefits Available to Individuals and HUF - Part 4

Neethi V. Kannanth 26 May 2021 at 09:31

This is the last part of the article series related to Income Tax Benefits Available to Individuals and HUF. We will now be discussing about the remaining deductions under Chapter VIA, TDS and advance tax provisions and about exemption from Filing of Income Tax Return

Section 10AA: Provisions Related To Newly Established Units In Special Economic Zones

Ritik Chopra 26 May 2021 at 09:31

Section 10AA provides a deduction from total income of such profits and gains derived by an assessee being an entrepreneur from the export of articles or things or services for certain consecutive assessment years.

Major Amendment in Registration Procedure u/s 12A & 80G

Manish Gupta 26 May 2021 at 09:31

Section 12A of the Income Tax Act, 1961 is the stepping stone for every charitable organization. It enables non-profit entities such as Charitable Trusts, Non-Profit Organization, Welfare Societies, Religious Institutions, etc. to claim full tax exemption as per Section 11 and 12 of the Income Tax Act, 1961.

Income Tax Benefits Available to Individuals and HUF - Part 3

Neethi V. Kannanth 25 May 2021 at 09:59

Discussing the Deductions Allowable from Taxable Income to Individuals and HUF as per Chapter VIA of the Income Tax Act, 1961.

Income Tax Benefits Available to Individuals and HUF - Part 2

Neethi V. Kannanth 24 May 2021 at 09:44

Let us discuss the incomes that are exempt from tax and the deductions from taxable income that are available to Individuals and HUF under the Income Tax Act.

Analysis Of Amendment In Procedure Of Re-Registration Of Charitable Institutions

CA Niyati Soni 24 May 2021 at 09:44

Central Government has come up with a new section 12AB in Union Budget 2020. It mandates the requirement of re-registration of 12AA and re-approval of existing 80G and 10 of all existing Charitable / Religious Institutions.

Application for registration of the trust or institution u/s 12A

CA. Peeyush Sharma 24 May 2021 at 09:44

Discussing all about the application for registration of a charitable trust or institution U/S 12A in Form 10A or 10AB of the Income Tax, Act 1961.

Government Extends Due Date Compliances under Income Tax and Launches New E-Filing Portal

P.R. Sethuraman 24 May 2021 at 09:43

Discussing the extended timelines for due date compliances in the Income Tax Act in a tabular format and the launch of the new e-filing portal of the Income Tax department.