Section 17(5) of CGST ACT, 2017
Input Tax Credit: Input Tax Credit means the tax paid by the Registered Recipient of goods or services in the form of Central Tax (CGST), State...
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Due date for filing of Form 61A (SFT) for FY 2020-21 is 30th June, 2021
As per Section 285BA of the Income Tax Act, read with rule 114E of Income Tax Rules 1962, specified reporting persons are required to furnish...
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Section 115BBE of the Income Tax Act
Section 115BBE of the Income Tax Act: Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D (1) Where the total income...
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Section 71 of the Income Tax Act: Set off of losses
Set off of losses Set off of losses means adjusting the losses against the profit or income of that particular year. Losses that are not...
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Declaration Form for not imposing TDS rate under section 206AB/206CCA
As the Finance Act, 2021 comes into force with Presidential assent on 28th March 2021. In this Act, two new sections have been introduced with effect...
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Section 115AD of the Income Tax Act
Section 115AD of the Income Tax Act: Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer (1) Where...
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Gift given by HUF to its Member is Considered as Income of Member?
Any person receives Gift from any other person, would be consider as income of the recipient as per section 56(2)(x) with certain exemptions. Section 56(2)(x)...
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TDS due date extend till 15-07-2021, Form No. 10A/ Form No.10AB till 31-08-2021: Press Release
Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19...
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SFT – Form 61A Filing – Due date 31st May 2021
Section 285BA of Income Tax Act, 1961 deals with Obligation to furnish statement of financial transaction or report able account and rule 114E of Income...
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Section 89A of the Income Tax Act
Tax relief in relation to export turnover. Section 89A. [Omitted by the Finance Act, 1983, w.e.f. 1-4-1983. The provisions of this section were later substituted by...