Articles by Soumya Laha
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Which ITR to choose for Commission Agents: ITR 3 or ITR 4?
Commission Agents are Businessman or Professionals? What do you think?If you think that Commission Agents are Professionals, then you are wrong. Many people tho...
Tax Audit under sec 44AB of the Income Tax Act
Tax Audit limit of Rs 1 crore has been increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20) if the taxpayer's cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer's cash payments are limited to 5% of the aggregate payments.
ITR Processed but Refund Failed - What to do?
'Your refund has failed, please raise a Refund Reissue Request', if you get this kind of email or sms after receiving ITR Processing Intimation u/s 143(1) then you need to follow just 2 simple steps to get you Income Tax refund.
Income Tax E-filing 2.0 New Portal - A bunch of problems & Few solutions
The Income Tax Department has totally disappointed us after launching the new E-filing 2.0 website. Some issues and observations regarding the New Portal have been highlighted in this article.
TDS deducted? Be careful if you are filing ITR only with Form 26AS
If a taxpayer files TDS details in ITR only with Form 26AS details before 31st May, then there is a chance of mistakes. Thus, it is important to wait for Form 16 or Form 16A certificates.
Company Dividend is Taxable from FY 2020-21 but What about Mutual Fund Dividend?
There are very few clarifications regarding Mutual Fund Dividend Exemption under section 10(35). Is it still available or not? Let's read and understand with official links.
Income Tax Deductions FY 2020-21 / AY 2021-22
Discussing Income Tax Deductions u/s 80C, 80CCC, 80CCD(1), 80CCD(1b), 80D, 80E, 80EE, 80EEB, 80G, 80GG, 80GGC, 80TTA, 80TTB, 24(b), and 87A that are applicable for FY 2020-21.
GST Rates with HSN code on Household Electrical Devices & Appliances
Generally there are four rates such as 5%, 12%, 18% & 28% under GST. Also there are Zero rated, Nil rated and Exempted category under GST.
Tax Audit u/s 44AB limit increased upto 5 Cr. w.e.f. AY 20-21- Is it applicable to all businesses?
Tax Audit U/s 44AB limit has been proposed to increase up to Rs. 5Cr. from AY 2020-2021 for MSME sector in Union Budget 2020 but several conditions apply.
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.
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