Income Tax Articles

10 Important changes in ITR of 2018-19

CA Umesh Sharma 23 July 2019 at 11:58

Arjuna(Fictional Character) : Krishna, 31st July 2019 is the due date of filing Income Tax Return for the F.Y. 2018-19, to whom it is applicable and what care should be taken by the taxpayer?

Section 56 on buy back of shares : An undying conundrum

Mayank Mohanka 23 July 2019 at 11:57

Applicability of Section 56(2)(viia) & 56(2)(x) of the Income Tax Act, 1961 on Fresh /Bonus/Right Issue & Buy Back of Shares: An Undying Conundrum!!

Recourses to Assessee after his Income Tax Return is processed

Chetan Bhatt 23 July 2019 at 11:56

The income tax department examines the return of income for its correctness. The process of examining the return by the income tax department is termed as asses..

CBDT finally hears plea of CAs and extends ITR deadline to 31st August

Vaishali Dhek 22 July 2019 at 11:49

The last date of filing returns for the assessment year 2019-20 is 31st July. However the Income Tax Department might consider extension of the due

TDS Section 194A - TDS on interest other than interest on securities

CA Himanshu Gandotra 22 July 2019 at 11:49

Section 194A covers provisions relating to deduction of TDS on interest other than interest on securities credited or paid by any person other than an individual or HUF to any resident, or an individual or HUF covered u/s 44AB(a)/(b).

Legal validity of Major changes in ITR schema

CA Tejas Andharia 19 July 2019 at 12:06

Does it seem that the legal validity of certain major changes in ITR Schema is questionable? Attempt to analyse with reference to legal provisions

Requirement of Gratuity Funding For Private Schools?

Tikaram Chaudhary 19 July 2019 at 12:05

The Payment of Gratuity (Amendment) Act 2018 provides Social Security to Teachers working in Educational institution (i.e. Private Schools) having 10 or more em..

Simultaneous use of Sec 44AD and Sec 44ADA

Suresh Thiyagarajan 19 July 2019 at 12:05

Though we have seen a lot of interpretations regarding simultaneous use of sec 44AD(relating to business) and sec 44ADA (relating to profession specified u/s 44..