Income Tax Articles
Taxation Due Dates Extended under Income Tax (Penalty & Assessment / Re-assessment) and Benami Act
The Central Board of Direct Taxes has extended various due dates of Assessment and Re-Assessment under the Income Tax Act, together with due dates under the Benami Act.
Seven Reporting Clauses in Tax Audit Report causing Hardship to Tax Auditor & Auditee if the due date does not extend
In this Taxalogue, I am discussing at least 7 Reporting Clauses in the Tax Audit Report (Annexure Form 3CD), which requires reporting by the Tax Auditor on certain specified compliances by the tax auditee up till the due date of filing of ITR u/s 139(1) of the Income Tax Act.
TDS u/s 194Q on purchase of goods
Discussing Section 194Q (TDS on payment of a certain sum for purchase of Goods) of the Income Tax Act, which has been introduced by the Finance Minister in Union Budget 2021.
CBDT Extends Vivad se Vishwas Dates Yet Again!!
CBDT vide its Notification No. 9/2021 dated February 26, 2021, has further extended the Due Dates under the Direct Tax Vivad se Vishwas Act, 2020.
How to Determine the Residential Status of an Individual?
A person with an American citizenship can still be a resident of India for Income Tax purposes. The residential status of the assessee is to be determined each year with reference to the 'previous year'.
What is E-Tax payment?
E-Tax payment is a facility provided to the taxpayers to make income tax payments through the internet, using Net-banking/Debit card of the selected Bank.
Section 194M | TDS on payments of certain Sums by Individual and HUF
Discussing section 194M of the Income Tax Act which deals with the TDS on payments of certain Sums by Individual and HUF including its meaning, rate of TDS, threshold limit etc.
Presumptive Taxation u/s 44ADA
Section 44ADA was introduced to extend the benefits of presumptive taxation to specified professionals and to reduce the burden of compliance to small professionals.
Understanding the gamut of Dumb Documents unearthed in an IT Search and Seizure Action
Non-speaking seized documents are referred to as 'Dumb Documents'. In this article, we will discuss the gamut of Dumb Documents unearthed in an IT Search and Seizure Action.
Section 194LD | TDS on Income by way of Interest on certain Bonds/Government Securities
Discussing Section 194LD of the Income Tax Act which deals with the TDS on Income by way of Interest on certain Bonds/Government Securities including its meaning, rate of TDS, nature of payment etc.
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