Income Tax Articles


LTC Cash Voucher Scheme - Should you Opt for it?

  Puneet Taneja    21 October 2020 at 15:03

An employee is eligible for LTC and leave encashment of 10 days for travel to home town or any other destination twice in a block of four years. The cost of the ticket is exempt whereas the leave encashment is taxable.



Benefits under the Income Tax Act for creation of employment

  Ajay Kumar Maggidi    19 October 2020 at 15:05

A taxpayer is eligible for deduction up to 30% of Additional Employee Cost for three consecutive assessment years, starting from the relevant previous year in which a new employee was employed.



Due date for filing of Tax Audit Report & ITR for AY 2020-21 - To extend or not to extend?

  Aishna Kukreja    16 October 2020 at 09:52

The cases of COVID-19 are increasing every day. Amidst this, should the government extend the due date for the filing of the Tax Audit Report and ITR for AY 2020-21?



Section 80JJAA: Deduction in respect of employment of new employees

  CA Santhosh Gupta Kethepalli    14 October 2020 at 10:43

In order to promote Employee generation, deduction under this section is given to all Assesses, whose books of accounts are required to get audited u/s.44AB. Know more about the section here.



Practical Case Studies on Tax Payable under the Vivad se Vishwas Scheme, 2020

  Mayank Mohanka    13 October 2020 at 10:04

The due date of making payment of disputed tax was extended to 31.12.2020. Let us discuss the practical Case Studies on Tax Payable under the Vivad se Vishwas Scheme, 2020.



Section 194O: TDS on Payments made to E-Commerce Participants

  CA Piyush Agarwal    13 October 2020 at 10:04

According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant. Know more about the section here.



Practicing as a Chartered Accountant under the Faceless Income Tax Era

  Dilip K Raina    12 October 2020 at 10:03

In this article, we understand why e-faceless assessment is different from the earlier face to face assessment and why we need to fill gaps existing in our offices, if any, to face future challenges.



Transactions Which Are Not Considered As Transfer Under Income Tax Act,1961

  FCS Deepak Pratap Singh    08 October 2020 at 10:00

Transactions Which Are Not Considered As Transfer Under Income Tax Act,1961



An Overview of TCS on Sale of Goods u/s 206C

  Chandani Nawalkha    07 October 2020 at 12:21

TCS on sale of goods u/s 206C (1H) came into effect on 1st October 2020. Let us have an overview of the new provision and what all does it cover.



Transparent Taxation Scheme: The expenses that are going to reflect in 26AS

  Susmita Dutta, CA , CPA    07 October 2020 at 11:21

The transparent taxation Scheme brings many changes in the taxation system. Let us discuss the expenses that are going to reflect in 26AS




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