Senior citizens earning interest income from FDs, savings accounts and recurring deposits can get income tax exemption up to Rs 50,000 per annum under section 80TTB. This is through the amendment of the Finance Act 2018.
The article deals with Section 80CCD - a deduction in respect of contribution to the pension scheme of Central Government, through which tax compliance burden of taxpayers can be reduced.
Taxpayer/Deductee can raise online grievance through 'Request for Resolution' option available at TRACES website from Assessment Year 2013-14 onwards. This is the online module of raising request which can also be tracked by Deductee / Taxpayer at TRACES website.
The author, in this article, has listed 14 new functionalities that are made available for taxpayers on the GST Portal
The IRDAI and Insurance Law updates provides synopsis of the introduction, amendments and changes brought by the Government and IRDAI in the previous quarter ended on (31st March 2021) is being published in this bulletin.
An assessee would receive intimation under Section 143(1) if the assessee has paid either more or less than the amount which he is actually liable to pay.
Section 45(2) states that conversion of Capital Asset into business asset has been treated as a transfer of asset and Capital Gain is attracted on such conversion.
Discussing the preparation strategy for the full course of IDT, together with the strategy to be followed 1.5 days prior to the exam and some exam related tips.
Parents play a very important role in determining their children's career. It is also said that all the actions taken by parents affect children, which is true in every situation.
In the Union Budget 2021, FM had proposed a major change in the Companies Act, which is related to the Status of Small companies, which is being determined by their capital and turnover.