Cost inflation index for Financial Year 2021-22 notified
CBDT notifies ‘317’ as Cost inflation index for Financial Year 2021-22 / Assessment Year 2022-23 vide Notification No. 73/2021-Income Tax...
Income Tax
TDS applicability on NGO/NPO
Applicability of TDS on Payment made by NGO:- TDS provisions is also applicable to the NGOs. There is no general...
Advance Tax Provisions
Liability to pay advance tax: As per section 208, every person whose estimated tax liability for the year is Rs....
Section 206CCA of the Income Tax Act, 1961:Applicability w.e.f. 01-07-2021
https://youtu.be/kdpDjpHhwLQ (more…)
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...
Taxability of Dividend w.e.f F.Y 2020-2021
Dividend Received from an Indian Company: Dividend received from an Indian company was exempt until 31 March 2020 (FY 2019-20). That...
Declaration Format for not deducting TDS under Section 206AB
The Finance Act, 2021 has introduced a new Section- Sec. 206AB. This is a Special Provision for deduction of tax at source...
Section 92 of the Income Tax Act: Transfer Pricing
Section 92 of the Income Tax Act deals with any income or expense arising from an ‘International Transaction’. In order to...
CBDT relaxes e-filing rules for submitting forms 15CA/15CB for foreign remittances amid ‘glitches’ on new portal
Central Board of Direct Taxes (CBDT) announced a relaxation in the electronic filing of income tax forms 15CA/15CB for foreign...
Section 154 of Income Tax Act, 1961
Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order...