Late fee under Section 234F, ITR Late fee for AY 2021-22, Late fee in Income Tax Return filing
SECTION – 234F : Fees for default in furnishing return of income— (1) Without prejudice to the provisions of this Act, where a person required …
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Extended due dates of Income Tax Returns (ITR) and Tax Audit Report for AY 2021-22
Click here to Download Press Release : Press Release Dated 09-09-2021 Summary of Extended Due Dates Extended Due Dates of ITR for AY 2021-22 i.e. …
Read More PRESUMTIVE TAXATION UNDER SECTION-44AE, SEC- 44AE OF INCOME TAX ACT
TAX ON PRESUMPTIVE BASIS IN CASE OF SMALL TAXPAYERS ENGAGED IN BUSINESS OF PLYING, HIRING OR LEASING OF GOODS CARRIAGES To give relief to small …
Read More PRESUMTIVE TAXATION UNDER SECTION-44ADA, SEC- 44ADA OF INCOME TAX ACT
TAX ON PRESUMPTIVE BASIS IN CASE OF SMALL TAXPAYERS ENGAGED IN SPECIFIED PROFESSION To give relief to small taxpayers from the tedious job of maintenance …
Read More Taxability of Income from Lottery winning, Crossword Puzzles, TV Game Shows & Horse Racing ; TDS under section 194B & 194BB
Taxability of Income from Lottery winning, Crossword Puzzles, TV Game Shows & Horse Racing The income that a person earns through lotteries such as (Lottery …
Read More Deductions under Chapter VI-A i.e. Deductions under Section 80C to 80U, Deductions under Section 80
DEDUCTIONS UNDER SECTION 80C, 80D, 80E, 80GG, 80TTA, ETC. Section Eligible Investments for Tax Deduction Maximum Amount allowed as Deduction 80C Investment in PPF , …
Read More Section 80G : Deduction for Donations
Section 80G : Deduction for Donations Donations specified under 80G are eligible for deduction fully (100%) or Partly (50%) with or without restrictions. Any donations …
Read More PRESUMTIVE TAXATION UNDER SECTION-44AD, SEC- 44AD OF INCOME TAX ACT
TAX ON PRESUMPTIVE BASIS IN CASE OF CERTAIN ELIGIBLE BUSINESSES OR PROFESSIONS To give relief to small taxpayers from the tedious job of maintenance of …
Read More HIGHER RATE OF TDS UNDER SECTION-206AA & 206AB, HIGHER RATE OF TCS U/S-206CCA
ANALYSIS OF SECTION – 206AA, 206AB & 206CCA SECTION 206AA : (APPLICABLE FROM 01-04-2010) 20% TDS IN CASE OF NO PAN OR NON-FURNISHING OF PAN …
Read More Section-194Q : TDS on Purchase of Goods
Section-194Q : TDS on Purchase of Goods exceeding Rs. 50 Lakhs The Finance Act, 2021 has introduced new section 194Q. It is effective from 1st July 2021. …
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