Income Tax Articles

ITR-2 for FY 2019-2020- Key Additions

CA (CS) Ujjwal Jindal 26 June 2020 at 14:26

Recently, the government (CBDT) notified the Income Tax Return Forms (ITR) for the financial year 2019-20 (A/Y 2020-21).Today i.e. on the 26th of June, 2020, th..

Various extensions in Income Tax Deadlines

CA Rahul Mittal 25 June 2020 at 10:33

The time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to 31st July, 2020.

Taxability of Capital Receipts under Income Tax Act, 1961

CA Mehul Thakker 25 June 2020 at 10:01

Whether the Capital Receipts which are not of recurring nature and more particularly of exceptional nature would fall within the meaning of Income?

Extension of various time limits under Direct Tax & Benami laws

Ajay 25 June 2020 at 09:50

In order to provide further relief to the taxpayers for making various compliances, the Government has issued a Notification on 24th June 2020.

New rule for Cash withdrawal Effective From 1st July 2020

CA Rahul Mittal 24 June 2020 at 15:22

New rule for Cash withdrawal Effective From 1st July 2020

Form 26AS: Transition from Annual Tax Statement to Annual Information Statement

CA Pratik Bhavsar 23 June 2020 at 17:37

Form 26AS (Tax Credit Statement) is the Annual Tax Statement in which the details of tax credit are maintained for each taxpayer as per the database of Income-tax Department.

Do I have to pay tax on Cashbacks?

Galactic Advisors 22 June 2020 at 17:29

As the nation eases out of lockdown, we're soon going to be rushing to the stores for some much-needed retail therapy and more-than-necessary vacationing.

The New Regime of Taxation

CA Hetal Thakkar 22 June 2020 at 09:45

In order to provide significant relief to the individual taxpayers and to simplify the Income-tax law, the Finance Act 2020, has recently introduced new concessional personal tax regime, (hereinafter referred as 'New tax regime'), by inserting Section 115BAC in the Income-tax Act,1961

Is Transfer of TDR Taxable under Capital Gain

Parth Shah 19 June 2020 at 15:53

In Real E-State sector Transfer TDR is prominent method for utilizing the potential. Where in Holder of TDR transfer the TDR generated from waving the right, su..

What is Form-16 for salaried Individuals?

Ritika Agarwal 19 June 2020 at 13:07

Form 16 can't be downloaded by an employee, it can only be issued by your employer. Form 16 is a TDS Certificate and it is to be issued by your employer only.