Income Tax Articles
How to file ITR(Income Tax Return) without Form 16?
Income Tax Return(ITR) can also be filed without Form 16. One might be facing issues with Form-16 due to lockdown. Know how to file ITR without Form-16
Income Tax changes in the month of Nov 2019
The objective of this document is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments and updates) in one place.
ITR 1 AY 20-21 key additions
ITR-1 for AY 2020-21 has now been made available on the e-filing portal. 3 Key additions have been made in ITR-1
Analysis of Income Tax Relief amidst COVID-19
In the wake of COVID-19, the Finance Minister made various relaxations in Income Tax for the taxpayers. Various extensions were given for statutory compliance.
Corona Relief Fund should be treated as tax credit
I propose a suggestion to have a Corona Relief Fund and appeal for donation even Rs 1000. I also propose a new kind of tax credit for the next 6 years on this donation.
Equalisation levy/Disallowance u/s 40 (a)(ib) of the Income Tax Act
Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions.
Instant PAN through Aadhaar based e-KYC - Digital revolution
The instant allotment of PAN through Aadhaar based e-KYC has been launched by the FM. This facility provides PAN in near to real-time basis.
Can Taxpayers claim the credit by filing TRAN-1 or not?
Though the govt had made retrospective amendment in law but it will not be at par with the legal rights of the tax payer. The government had to inserted sub rule 1A under rule 117 owing to the technical difficulties on common portal faced by the taxpayers. Had it not been an issue, no need would have aroused for extending the due date.
Business loss u/s 28 vs. specific deductions under the head business
Many times we fall into a confusion regarding the difference between business losses and business expenditure.
What Taxes shall you pay for the Financial Year 2019-2020?
We have all been so caught up with the multiple announcements coming from the government that we have almost forgotten how the Finance Act 2019 changed the tax payments for the FY 2019-20. Here are the taxes that you shall pay in the FY 2019-20
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