Income Tax Articles

Comparative Analysis of Section 194Q & Section 206C(1H)

CA Harshal Jain 16 June 2021 at 14:29

Section 194Q is similar to Section 206C(1H) which was introduced by Finance Act 2020, requiring seller to collect tax at source on transactions between a buyer and a seller.

Major Changes in new Income Tax Returns for AY 2021-22

CA Sapna Ghelani 16 June 2021 at 09:35

CBDT has notified the Income Tax Returns for AY 2021-22 on 31st March 2021. Let us understand the Major Changes in these Returns and the impact of COVID-19 on the overall changes made by CBDT.

Income Tax E-filing 2.0 New Portal - A bunch of problems & Few solutions

Soumya Laha 16 June 2021 at 09:35

The Income Tax Department has totally disappointed us after launching the new E-filing 2.0 website. Some issues and observations regarding the New Portal have been highlighted in this article.

Taxability on Rent Free Accommodation

Ritik Chopra 15 June 2021 at 09:52

Discussing all about Rent Free Accommodation including its meaning, meaning of salary for this purpose, Hotel Accommodation, exempt cases and calculation for furnished and unfurnished accommodation.

Section 206AB of the Income Tax Act, 1961

Divyam Agarwal 14 June 2021 at 17:05

Discussing the provisions of section 206AB, exemption available under the section, rate of TDS, applicability of the section with section 206AA, meaning of the term 'specified person' and effective date of the section.

How you can download Form 26AS on the new Income Tax Portal?

CAJayprakash Pandey 14 June 2021 at 09:22

A new avatar - Effective from June 1, 2020, your Form 26AS will now contain information regarding tax refunds and demands (if any) against your PAN.

Section 10(15): Exempt Interest Incomes

Ritik Chopra 14 June 2021 at 09:22

Interest income is one of the most common sources of income for the general public. In this article, we will discuss all the exempt interest incomes under the Income Tax Act, 1961.

Managing the Taxable Income of Corporates

Manish Gupta 14 June 2021 at 09:22

Direct Tax levied on the income of a corporate is a considerable amount of money that has to be paid to the government every year. In this article, we will discuss the tax-saving provisions available for corporates.

Finance Act 2021 | Did you Know? Certain Taxpayers Have to Pay Double Tax w.e.f 1st July 2021

CAJayprakash Pandey 12 June 2021 at 14:46

Section 206AB shall replace the applicability of TDS rate with a higher rate of TDS for those who have not filed an ITR for two PY when the aggregate of TDS and TCS is beyond 50,000 rupees in each of those two PY.