Income Tax Articles
Analysis | Restriction on cash transactions
As soon as Modi Government resumed power in central on 26/05/2014, on its first day in office, Prime Minister's new government has constituted a Special Investigation Team or SIT to unearth and bring back black money stashed away abroad.
All about Renting of immovable property
1. INTRODUCTION Renting of Immovable property has been taxed under the earlier tax regime vide Section 65 (105) (zzzz). Renting of immovable property has been brought into tax net vide Notification No. 23/2007-ST dated 01.06.2007.But After 1.7.20
All about Presumptive Taxation
Presumptive Taxation Taxation is the most essential wing of the government’s revenue. It contributes a bulky amount to the government to meet the social and economic need of the nation. When collecting tax from the public the government tr
Presumptive Taxation | An analysis
PRESUMPTIVE TAXATION Presumptive taxation involves lump sum levies on certain small-scale business activities to whom Section 44AB is not applicable. Thus Sections 44AD, 44AE and 44AF of the Income-tax Act, 1961, provide for estimating the income
An insight into Point of Taxation Rules, 2011
Introduction Details: a. Notified vide Notification No. 18/2011 dated March 1, 2011 and Notification No. 25/2011 dated March 31, 2011. b. Effective from April, 2011, option to implement from July, 2011. c. The Point of Taxation Rules are for d
New Tax Regime
The government though has offered lowered tax rates on one hand but has also taken away certain deductions and allowances on the other hand. So taxpayers will have to choose accordingly.
Tax Compliance and Statutory due dates for the m/o May, 2021
Here, we have prepared a Compliance Calendar in three parts, Compliance Calendar for GST Returns, Income Tax/PF/ESI Returns and LLP Annual Filing compliances lying in the month of May 2021.
TDS deducted? Be careful if you are filing ITR only with Form 26AS
If a taxpayer files TDS details in ITR only with Form 26AS details before 31st May, then there is a chance of mistakes. Thus, it is important to wait for Form 16 or Form 16A certificates.
Aadhar PAN link
Aadhar pan link Simple Steps to link your AADHAR with PAN and aadhar pan link status, aadhar pan link why is it so important
TDS on Purchase or TCS on Sale: Hassle?
The predicament arises when the turnover of both the buyer and seller exceeds Rs 10 crores and both are liable to comply under their respective provisions; as the sale and purchase are flipsides of a transaction.
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