According to the Finance Act 1987 amendment, you can file your Belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY).
Discussing the three types of challan cum returns under TDS on Payment of transfer of Immovable Property, TDS on Rent on Property and TDS on Payment to Resident Contractors and Professionals.
A bond washing transaction can be defined as a transaction where some securities are sold sometime before the due date of Interest and reacquired after the due date is over. In order to discourage such transactions Section 94 was introduced.
As per the Income Tax Act, a foreign citizen may end up being an Indian Resident & liable to pay tax for a particular year. So, it is important to know one's residential status.
Deduction u/s 35AD is available towards any capital expenditure, wholly and exclusively, incurred for carrying on a specified business. This deduction has been applicable since AY 2010-11.
Section 40A(2) of the Income Tax Act lays down provisions for the disallowance of certain payments to relatives. Let us discuss persons covered u/s 40A(2)(b).
There are a number of deductions available under various sections that will bring down your taxable income. In this article, we have discussed some deductions under chapter VIA that a taxpayer can claim.
The implication of section 194Q in the Income Tax Act, 1961 is one of the several desperate attempts of the Government to increase the flow of revenue into the exchequer.
In this article, we have given a complete step-wise tutorial on how one can correct their name in their Aadhaar Card, in person, via post or online.
In case a deduction has already been claimed on an accrual basis in any earlier previous year, it will not be allowed again in the year in which it is actually paid.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
