Income Tax VIVAD SE VISHWAS SCHEME, 2020 2 Apr 202014 Apr 2020 Vivad Se Vishwas Scheme is introduced by the Government of India with intent to resolve a major part of Income Tax litigations worth about Rs 4.8 lakh crores by way…
Income Tax… Income Tax Changes w.e.f 01.04.2020 2 Apr 20206 May 2020 1.Rates There have been no change in Tax, Surcharge and Cess Rates. However a new Section 115BAC has been introduced w.e.f. 01/04/2020 whereby an individual and HUF can opt to…
Income Tax Income Tax Returns form 1 and 4 for AY 2020-21 notified 5 Jan 202028 Mar 2020 Income Tax Returns form 1 and 4 for AY 2020-21 notified Following are some changes in new ITR 4Sugam AY 2020-21 :- [1 ] If having Passport, its number is…
Income Tax Income Tax New Rates 22 Sep 201922 Sep 2019 Tax Liability under different Structures for A.Y 2020-21CompanyBelow 1 Cr *22.88%*Between 1-10 Cr *24.48%*More than 10 Cr *25.62%*Firms and LLPBelow 1 Cr *31.20%*More than 1 Cr *34.94%*Proprietorship or IndividualBetween 50…
Income Tax 1 सितंबर से बैंक से नगदी निकलने पर २% टीडीएस 30 Aug 201930 Aug 2019 बैंक से रोकड़ आहरण पर टीडीएस के प्रावधान के संबंध में वित्त मंत्रालय द्वारा जारी प्रेस विज्ञप्ति के अनुसार रोकड़ निकासी की सीमा जो एक करोड़ है उसकी गणना करते…
Income Tax Apex Income Tax body, CBDT highlights 7 red flags to identify post-demonetization cash deposit Scrutiny. 7 Mar 2019 CBDT’s internal note to the Senior Revenue officers highlights taxpayers trying to build an explanation for cash deposits in their bank accounts post demonetisation by manipulating books-of-accounts and by filing…
Income Tax No disallowance of foreign travel exp. just because trustees visited abroad for business purpose on tourist visa 28 Feb 2019 IT : Where one of trustees had gone abroad for promoting business of assessee-trust, mere fact that he went on a tourist visa could not be a ground to conclude…
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