Income Tax Articles
FAQs on Scope and Eligibility of the Vivad se Vishwas Act 2020
On 4th December 2020, the Central Board of Direct Taxes released the second set of FAQs which focuses on the Scope and Eligibility of the Vivad se Vishwas Scheme 2020.
Provisions of Sec 44AA under Presumptive Taxation
In this article, we will discuss the provisions of Section 44AA of the Income Tax Act which talks about Presumptive Taxation and its practicality in the finance sector.
Weekly Finance and Tax News Bulletin by CAclubindia - 29th November to 5th December 2020
In this article, we will discuss the major updates from the Finance and Tax Industry between 29th November 2020 and 5th December 2020.
When does the Liability to pay advance tax under Income Tax Act arise?
Understanding the provisions 207, 208, and 209 under the Income Tax Act, 1961 together with analyzing a practical scenario in implementing these provisions.
When will CPC start to process Income Tax Returns for FY 19-20 / AY 20-21 and give Refund? Here is the answer
CPC has started to process Income Tax Returns from 23rd November 2020. So, if you filed and verified your ITR successfully, your ITR will be processed soon.
Section 115BBE- Bleak line between Righteousness and Injustice
The provisions of sec 115 BBE of the Act are draconian at first glance and can give nightmares to the assessee. This section erodes the faith of the taxpayer in the IT Law since it is being applied retrospectively from April 2016.
Changes in ITR-5 for AY 2020-21
Changes in ITR-5 for AY 2020-21
Due Date Compliance Calendar - December 2020
It is important to plan your month so that you don’t miss any due dates. In this article, we discuss all the due dates under all the acts that lie in the month of December 2020.
An Overview of Cash Transaction Limits & Restrictions
In this article, I have tried to give a brief overview w.r.t. cash transaction limits put in by government under the Income Tax Act and GST law along with penalty for transacting in cash over and above a certain threshold.
An analysis on Equalisation Levy
The Finance Act 2020 has expanded the scope of equalization levy by introducing Section 165A. Through this, the levy has been extended to non-resident ECO supplying goods and services online.
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