Prescribed electronic modes of payment for the purpose of section 269SU
Rule 119AA of the Income Tax Rule 1962: 1. Every person, carrying on business, if his total sales,...
Articles
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...
Clarification in respect of residency u/s 6 of the Income-tax Act, 1961
CBDT issues Circular No. 11 of 2020 and excluded period of forced stay in India from 22nd March, 2020 to...
Deferment of new procedure for approval/registration u/s 10(23C),12AA, 35 & 80G
Deferment of New procedure which was decided in Finance Act 2020, for approval/registration/notification of certain entities u/s 10(23C),12AA, 35 &...
What is ‘Charitable Purpose’ for Income Tax Purposes ? [ Sec. 2(15)]
As per Section 2(15) of the Income Tax Act 1961 "Charitable purpose" includes relief of the poor, education, yoga, medical...
Clarification in respect of option under section 115BAC
Clarification in respect of option under section 115BAC of the Income-tax Act, 1961 Section 115BAC of the Income-tax Act, 1961...
Section 271K-Penalty on charitable institution
A new section 271K insert by the finance bill 2020 which impose the penalty on charitable institution. Summary of section...
Section 271AAD: Penalty for False entries Or Omitted entries
A new section 271AAD insert by the finance bill 2020 which impose the penalty for false entry, etc. in books...
Section 194-K (TDS on Income From Mutual Fund)
A new section 194-K was inserted in the Finance Bill 2020 which is as under: - Section: -194-K (TDS on...
Amendment in Audit Threshold Limit u/s 44AB of Income Tax Act
Audit of accounts of certain persons carrying on business or profession -New Proviso has been inserted in sub-clause (a) of...