Income Tax Articles

About 80JJAA: Deduction in respect of employment of new employees

Rishi Jhajharia 30 April 2019 at 11:04

Eligible assessee: Any assessee engaged in business and liable for tax audit u/s 44abDeduction: 30% of Additional employee cost for 3 consecutive yearsMeaning o..

New Clauses 31(ba) to (bd) inserted in Form 3CD

CA Shail Thakkar 26 April 2019 at 18:39

Details regarding newly inserted Clauses 31 (ba) to (bd) in Form 3CD by IT (Eighth Amdt.) Rules, 2018.Reporting to be done is as follows:31 (ba) Particulars of ..

Agricultural Income in India: Questions & Answers

Guest 26 April 2019 at 15:22

Agricultural income in India is categorised as a source of income and includes: income from sources that comprise agricultural land, income from buildings on o..

New Form 16: Important changes in Form 16 you must know

Ranu Gupta 26 April 2019 at 11:12

The Form 16 format has been revised by the Central Board of Direct Taxes (CBDT) and is applicable from 12th of May. The format specified in the notification com..

Consequences of non-filing and non-payment of Income Tax

Pratik Rathi 25 April 2019 at 17:28

Indian Tax structure is very much understandable, but confusions arise in the minds of the people due to many reasons. Lack of information and awareness are th..

Did You Invest in These Plans While Saving Tax This Year?

Guest 24 April 2019 at 11:37

Each and everyone one of us thrives hard to earn money, and we struggle much more to keep that money safe. We look for every nook to try and save even a single ..

3 famous case laws that clarify how to identify a slump sale

Guest 24 April 2019 at 11:27

The concept of Slump Sale was introduced in the income tax law through section 2(42C) and section 50B in AY 2000-01 consequent to a ton of litigation and ambigu..

ITR 2019-20 : An Analysis of amendments and additional disclosure requirements

Padmanathan Kv 23 April 2019 at 11:14

CBDT has vide Notification No 32/2019-Income Tax Dated 01/04/2019 released the new ITR Forms for AY 2019-20. While there is no change in ITR-1 (SAHAJ) meant for..

Employers and Employees Beware! Changes in Form 16

CA Umesh Sharma 22 April 2019 at 17:15

Arjuna(Fictional Character) : Krishna, new format of Form 16 has been notified by CBDT, please throw some light on the same?

TDS on Personal Rent u/s 194-IB

Rishi Jhajharia 22 April 2019 at 11:04

Applicability For those small business which are not liable for tax audit u/s 44ab Personal rent of house for salaried individual claiming HRARate of TDS 5% ex..