Articles by Susmita Dutta, CA , CPA
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Income tax on virtual digital assets Under Section 115BBH
The definition of Virtual Digital Assets proposed to be inserted vide new clause 47A to the section 2 of the Act, where Virtual Digital Assets are defined to cover assets
New Form ITR-U Under Section 139(8A) for updated Income Tax Returns
The CBDT has notified a new form for filing updated Income Tax returns in which taxpayers will have to give the exact reason for filing it along with the amount of income to be offered to tax.
All about Annual Information System
The new AIS is related to interest, dividends, securities, transactions, mutual fund transactions, foreign remittance information. The information is processed to eradicate duplicity of information.
Extension of Income Tax due dates for the AY 2021-22 related to the FY 2020-21
CBDT, in exercise of its power under section 119 of the Income-tax Act, 1961, provides relaxation on Income Tax due dates as per Circular 9 of 2021 dated 20th May 2021.
RCM on renting of motor vehicles
GST on supply of service by way of renting of any motor vehicle designed to carry passengers(cost of fuel included in the consideration charged from the service recipient) is paid if certian conditions are satisfied. Read the full article to know all the conditions.
An Overview of GST QRMP Scheme
The QRMP Scheme states that a GST registered person, whose turnover is less than 5 crore rupees, is eligible to file the return on a quarterly basis, but has to make the payment on a monthly basis.
Transparent Taxation Scheme: The expenses that are going to reflect in 26AS
The transparent taxation Scheme brings many changes in the taxation system. Let us discuss the expenses that are going to reflect in 26AS
TCS u/s 206C (1H) - Applicability, Exemptions and Payment Schedule w.e.f 1st Oct 20
TCS u/s 206C (1H) will be applicable w.e.f 1st October 2020. Let us understand the applicability, exemptions, and payment schedule etc. of the section.
Comparative analysis on budget 2020 for Salaried Individual
Comparative analysis on budget 2020 for Salaried Individual
Submit Form 15G and Form 15H to avoid TDS on interest income
1. What is Form 15G and Form 15H?Form 15G and Form 15H are forms which a person can submit to make sure TDS is not deducted on income if that assessee meet the ...
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