Facts: The assessee derived income from the business of erection, commissioning, and installation of towers on a contract basis. The Assessing Officer noticed that total receipts declared by the assessee were less than the amount on which TDS credit was [Read More]
Due dates for the Month of August 2021 7th INCOME TAX – TDS Payment for July. 10th GST – Return of authorities deducting tax at source – GSTR 7 for July. – Details of supplies effected through e-commerce operator and [Read More]
Facts: The assessee, a HUF, invested the funds belonging to the HUF in RBI taxable bonds. The details of such investments and assessment for the relevant year can be tabulated as below: Details of the assessment year 2012-13 Income shown [Read More]
The Finance Bill 2008 amended section 199 of the Act and the purpose for which section 199 of the Act was amended was explained by the Memorandum explaining the provisions in the Finance Bill,2008 under the heading “Amendments to the [Read More]
Most of the new ITR forms changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. We have scrutinized the new ITR Forms and have identified the key changes in new ITR forms viz-a-viz [Read More]
Most of the new ITR forms changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. We have scrutinized the new ITR Forms and have identified the key changes in the new ITR 2 [Read More]
Most of the new ITR forms changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. We have scrutinized the new ITR Forms and have identified the key changes in new ITR forms viz-a-viz [Read More]
ITR – 1 and ITR – 4 cannot be filed in case of deferment of tax on ESOPs The Finance Act, 2020, has allowed deferring the payment or deduction of tax on ESOPs allotted by an eligible start-up referred under [Read More]
The CBDT has amended Rule 2B to provide an exemption in respect of cash allowance received in lieu of leave travel concession (LTC). Due to the COVID-19 pandemic and the nationwide lockdown, employees who had not been able to avail [Read More]
The Central Board of Direct Taxes (CBDT) has notified Income Tax Return (ITR) Forms for the Assessment Year 2021-22 vide Notification No. 21/2021, dated 31-03-2021. Considering the crisis due to the COVID pandemic, the board has not changed the ITR [Read More]