Income Tax Articles
Provisions of Section 44AD - Part 2
Section 44AD of the Act has a superior position vis-à-vis the other provisions of the Income Tax Act because of a non-obstante clause. In this article, we have discussed, all the provisions of Section 44AD of the Income Tax Act.
Provisions of Section 44AD - Part 1
As per the proviso to 44AD(1), income can be declared as 6% of the turnover if the payment is received digitally or through the banking channel before the due date of return filing u/s 139(1).
Equalisation Levy: Applicability, Features and Penalty
Equalisation Levy: Applicability, Features and Penalty
GST returns will reflect in your Income Tax Passbook (Form 26AS)
The new Form 26AS will have all the information on taxes paid by you, details of pending & completed income tax proceedings, status of income tax refund and demand along with details of specified financial transactions like purchase of shares or property.
Summary of the Sections restricting cash payment under the Income Tax Act, 1961
A brief Summary of the Sections restricting cash payment under the Income Tax Act, 1961.
What happens after you have filed an ITR?
An Income Tax Return is a prescribed form in which an assessee declares the income earned and tax paid on such income during a given financial year.
Key Takeaways from New FAQs issued by CBDT on Vivad se Vishwas Scheme, 2020
In this article, we discuss some of the key takeaways from the new FAQs issued by the Central Board of Direct Tax on 4th December 2020 on Vivad se Vishwas Scheme, 2020.
Which scheme should an employee choose to pay taxes in FY 2020-2021?
The dilemma of which scheme should an employee opt for Income tax in FY 20-21
Legality of Prior approval of Joint Commissioner for assessment in search cases under Section 153D of the Income Tax Act'1961
Legality of Prior approval of Joint Commissioner for assessment in search cases under Section 153D of the Income Tax Act'1961
Introduction to Presumptive Taxation
Section 44AD of the Income Tax Act 1961 provides for computing business income on a presumptive basis, which was introduced by virtue of The Finance Act 1994
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