As per the Act, capital reduction to the extent of accumulated profits is treated as deemed dividend under section 2(22)(d). Consequently, DDT under section 115-O was paid by the company. Accumulated profits for this purpose shall include all profits of the company upto the date of such distribution or payment whether capitalised or not
Section 44AB of the Income Tax Act provides that every person is required to get his accounts audited if his Section 44AB of the Income Tax Act provides that every person is required to get his accounts audited if his
To make e- payments of all kind of direct taxes one can visit the official site of NSDL i.e. https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
Taxation of cross border e-commerce transactions has been a challenge for the whole world, including India due to location of the supplier,etc
Prohibited use or application of income or property Of Charitable trust
A person making payment to a Non-Resident /Foreign entity is required to furnish an undertaking in Form 15CA in digital mode. In some cases, department requires a Certificate From CA, in Form 15CB to be uploaded with the Form 15CA.
Recently, the government (CBDT) notified the Income Tax Return Forms (ITR) for the financial year 2019-20 (A/Y 2020-21).Today i.e. on the 26th of June, 2020, th...
The time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to 31st July, 2020.
Whether the Capital Receipts which are not of recurring nature and more particularly of exceptional nature would fall within the meaning of Income?
In order to provide further relief to the taxpayers for making various compliances, the Government has issued a Notification on 24th June 2020.
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