Income Tax Articles

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

Section 80D - Deduction in respect of Medical Insurance Premium under IT Act

CA Santhosh Gupta Kethepalli 05 October 2020 at 14:45

In the present scenario, due to the arise of Covid-19, many people are purchasing Health Insurance policies. Premiums paid on such policies are eligible for deduction u/s 80D of Income Tax Act. Let us discuss the deduction.

TDS on fees for professional or technical services

FCS Deepak Pratap Singh 05 October 2020 at 10:45

The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here