Income Tax Articles
TDS on payments made to government/government agencies
As most of you are aware, from years this issue is bothering many vendors who are dealing with either the government or with governmental agencies. I researched...
Certain income tax developments from March 2020 in the wake of COVID-19
Certain Income Tax relaxations have been given in the wake of COVID-19. Know all the Income Tax developments since March 2020
Analysis of Sec 115BAA of the Income Tax Act
With the introduction of sec 115BAA, domestic companies who are paying tax at the rate of 25% (or 30%) now have an option to pay tax at a lower rate through sec 115BAA. Any person who had opted for sec 115BAA being a domestic company will pay tax at the rate of 22% on its total income irrespective of its turnover during the previous year.
TDS Certificates for nil/low TDS rates valid till 30.06.2020
Clarification issued by CBDT regarding the validity of TDS certificates for lower or nil TDS rates.Nil or Lower TDS/TCS certificate issued for a particular period in FY 2019-20 also valid till June 30, 2020.
Re-Run of the Classical System of Taxing Dividends in the hands of Recipients, like the Re-Run of "Ramayana"
The Finance Act 2020 has re-introduced the classical system of taxing dividend income in the hands of recipient shareholders at their respective applicable slab rates and the domestic companies or mutual funds are not required to pay any DDT on such dividend income, w.e.f. AY 2021-22, i.e. w.e.f. 1.4.2020.
TDS Section 194J of the Income Tax Act
As per the amendment to TDS section 194J of the Income-tax Act, 1961 TDS on technical services will be charged at 2%.TDS Section 194J deals with provisions related to fees on professional and technical services.
Quarterly financial results: Impact of reduction in the income tax rates
The listed companies would have to prepare the quarterly financial results for the quarter ended 30 September very soon, and hence the decision have to be taken by them as to the income tax rates they opt for.
Queries related to ITR Filing
This article deals with Queries related to ITR Filing
ITR Filing: 6 key changes in ITR-1 you need to know
The Income Tax department has notified the Income-tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. This article covers all the key changes introduced in the ITR-1 for the assessment year 2020-21
ITR-1 and ITR-4: Detailed analysis of changes
The CBDT notified changes in ITR-1 and IYR-4 for AY 2020-2021. This article summaries all the changes made in Income Tax Return Forms, ITR-1 and ITR-4 after the notification regarding relaxation granted by CBDT vide notification dated 9th January 2020.
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