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 statement of financial transactions in Form No. 61A for FY 2019-20 by 30th June 2020In view of Notifications No. 3/ 2018 dated 5th April 2018, the registration, statement upload and […]
Finance bill 2020 has received Presidential assent on 20th March and Become Finance Act 2020 , The provisions of the Finance Act 2020 (FA 2020) will now get incorporated in the Income-tax Act, 1961 (Act) from 1 April 2020, Exceptionally, a large number of amendments, about 59, have been incorporated by current Indian Government while passing FA 2020. Knowledge Paper Regarding […]
The Central Board of Direct Taxes (CBDT) has notified new additions to the procedures and methods to be followed by taxpayers for filing tax under section 115BAA and Section BAB of Income Tax Act,1961
Vide Notification No. 08/2020 dated 29.01.2020, the CBDT inserted new Rule 6ABBA in Income Tax Rules, 1962 to prescribe for other electronic modes of payments as prescribed for certain sections.
Form 10DA is a report to be issued by a Chartered Accountant certifying the amount of deduction to be claimed by a taxpayer under section 80JJAA of the Indian tax law – for New Employment.
Income Tax department releases Form No. 26QD vide notification no. G.S.R. 858(E) for filing TDS returns, of transactions which are required to be deducted u/s 194M of the Income Tax Act, 1961- “Payment of certain sums by certain individuals or Hindu undivided family”
