PM's "Transparent Taxation- Honouring the Honest" program has introduced us with the Faceless Assessment Scheme. How would be the functioning of such a Faceless Assessment Scheme?
How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?
So, pause! Before rushing towards filing ITR this year, follow a few more best practices that may save you time, benefit you over a number of years, and help you understand any new filing provisions. Note that this article assists those who already know at least a few aspects of filing ITR.
Income Tax Appellate Tribunal's Powers to Rectify its order U/S 254 (2) of the Act
The new scheme was slated to bring in a paradigm shift in the way tax assessments were carried out in India by eliminating person-to-person contact to the extent it is technologically feasible, providing a fair and transparent framework of assessments, ensuring the tax assessments were technically sound and that consistent tax positions were taken.
1. Before 2016, the turnover limit for sec 44AB and Sec 44AD were identical. Thereafter, in Budget 2016, the turnover limit for Sec 44AD has been raised to INR ...
If you are planning a foreign tour this year, you can do that before April 1 to avoid paying an additional 5%/10% as TCS as Budget 2020 proposed by Finance Mini...
The Direct Tax Vivad Se Vishwas Bill, 2020 (Amended)
TCS on foreign travel, tours packages, remittance rules 2020
Liability of directors of private company in liquidation for payment of tax dues
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English