Income Tax Articles
Understanding penalty provisions for failure to furnish the TDS/TCS statements
A person who fails to file the TDS/TCS return has to pay late filing fees as provided under section 234E and apart from late filing fees he shall be liable to pay a penalty under section 271H.
Extension of Time Limits of Various Compliances
In wake of the COVID-19 pandemic and in the interest of taxpayers, CBDT has extended time limits for various compliances. Same has been discussed in this article.
Importance of Statement u/s 132(4) of the IT Act 1961, Retraction thereof
Section 132(4) of the act has been put in place by the legislature consciously so as to enable the authorized officer to collect such evidence by recording statements during the course of the search.
Various assessments under the income tax law
The process of examining the return of income by the Income Tax department is called “Assessment”. Let us discuss various assessments under the Income Tax Act. ...
Government Extends Due Date Compliances under Income Tax and Launches New E-Filing Portal
Discussing the extended timelines for due date compliances in the Income Tax Act in a tabular format and the launch of the new e-filing portal of the Income Tax department.
Application for registration of the trust or institution u/s 12A
Discussing all about the application for registration of a charitable trust or institution U/S 12A in Form 10A or 10AB of the Income Tax, Act 1961.
Analysis Of Amendment In Procedure Of Re-Registration Of Charitable Institutions
Central Government has come up with a new section 12AB in Union Budget 2020. It mandates the requirement of re-registration of 12AA and re-approval of existing 80G and 10 of all existing Charitable / Religious Institutions.
Income Tax Benefits Available to Individuals and HUF - Part 2
Let us discuss the incomes that are exempt from tax and the deductions from taxable income that are available to Individuals and HUF under the Income Tax Act.
Income Tax Benefits Available to Individuals and HUF - Part 3
Discussing the Deductions Allowable from Taxable Income to Individuals and HUF as per Chapter VIA of the Income Tax Act, 1961.
Tax Planning while setting up of a business for A.Y 2021-2022 and A.Y 2022-2023
Tax Planning while setting up of a business with reference to the Nature of Business for A.Y 2021-2022 and A.Y 2022-2023 - An analysis of Eight important Deductions as per the Income Tax Act.
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