Income Tax Articles

IT slab rates for FY 2020-21

Chandra Sekhar Reddy 24 April 2020 at 10:31

Income Tax Slab Rates for the FY 2020-21 and AY 2021-2022. The taxpayers can pay tax under new or concessional rates in FY 2020-21.

Section 271AAD: Fair Interpretation and applicability

Hemant Kumar Gupta 24 April 2020 at 10:30

Section 271AAD is for a penalty on false entry, etc. in books of account.Under the Head "H. PREVENTING TAX ABUSE", explanation and need for insertion of Section 271AAD have been given.

PF| New PPF rules

FCA surbhi jain 24 April 2020 at 10:30

Due to lockdown, the government has relaxed a few rules on PPF and small saving schemes like 5 year National saving certificate, Kisan Vikas Patra, Sukanya Samridhi Yojana, etc.

Form 26AS How to view and download on TRACES Portal?

CCI Team 23 April 2020 at 18:02

Form 26AS is a tax credit statement maintained by the Department of Income Tax. Form 26AS can viewed and downloaded on the TRACES Portal

Amendment to TDS Provisions in Income Tax Act

Jigar Rajendrabhai Mansatta 23 April 2020 at 10:49

The Finance Act 2020 has made various amendments to the TDS Provisions. TDS Section 194O has been introduced in the Income Tax Act through Finance Act 2020.

Revised FAQs on Vivad se Vishwas Act, 2020

Suhasini 23 April 2020 at 10:48

The Central Board of Direct Taxes(CBDT) issued a further clarification on the Vivad se Vishwas Act 2020. The 55 FAQs on the Vivad se Vishwas Act have been modified.

Amendments in relation to residential status as per Finance Act 2020

Grishma Mody 22 April 2020 at 10:48

One of the major changes in the Finance Act, 2020 ('FA, 2020') is with respect to amendments in residential status criteria, which directly impacts the Non Resident Individual (NRI) community.