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Guidelines for Taxing Partnership Firms on its Reconstitution issued by CBDT [Read Circular]
The Central Board of Direct Taxes (CBDT) has issued guidelines for taxing partnership firms on its reconstitution in respect of…
Category: Income Tax Articles
Guidelines issued for TDS on purchase of goods applicable from 1st July 2021
The CBDT vide Circular No. 13 of 2021 dated 30th June, 2021 has issued detailed guidelines under Section 194Q of Income-tax…
Income Tax: Govt. grants further extension in timelines of compliances
The Government has granted further extension of timelines of compliances under Income Tax Act. It has also announced tax exemption…
Cash deposits up to Rs 2.5 lakh by housewives post demonetisation not subject to IT Scrutiny
Cash deposits of up to ₹2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal…
Double TDS for IT Return defaulters : CBDT issues new functionality for Compliance Check
The Central Board of Direct Taxes ( CBDT ) has issued the Circular No. 11 of 2021 dated 21st June,…
ITR Filing: Step-by-step guide to file your income tax returns without Form 16
All employed people must file income tax returns every year and Form 16 is required to do that. You should…
Income Tax: Reopening of Cases processed u/s 143(1) – Latest ITAT Ruling
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the Assessing Officer can reopen assessment if he reason to…
Cost Inflation Index: All you wanted to know
Prices of goods increase over time which is referred to as inflation, resulting in a fall in the purchasing power…
Relaxation in electronic filing of Income Tax Forms 15CA/15CB
As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with…
PAN to be linked to Aadhaar by completed by June 30, 2021 in the New Income Tax Portal: All you need Know
The last date to link Aadhaar Card and Permanent Account Number (PAN) is June 30, 2021. The Central Board of…
New features and a step-by-step guide to use new Income Tax website
India’s Income Tax department launched its new income tax e-filing portal on Monday which comes with a lot of new…
Compulsory selection of IT Returns for complete scrutiny during FY 2021-22: Guidelines issued
The CBDT (ITA-II division) issued Guidelines vide F. No. 225/61/2021/ITA-II dated 10th June 2021 for compulsory selection of returns for Complete scrutiny during…