Category: Income Tax

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-know-how-to-compute-tax-on-income-from-freelancing/2369936/ Income from freelancing has to be reported under the head “Profits and Gains from Business or Profession”. With effect from financial year 2020-21,

Clipped from: https://indianexpress.com/article/india/it-notices-to-indians-nris-pandora-papers-7624699/ Notices ask if foreign assets declared; responses from overseas trickle in It is understood that notices have been sent under Section 131 of

lipped from: https://maharashtratimes.com/business/paishacha-jhad/know-about-different-types-of-income-tax-notice/articleshow/87708955.cms?utm_source=briefs प्राप्तिकर विभागाकडून वेळोवेळी करदात्यांना नोटिसा पाठवल्या जातात. प्रत्येकवेळी पाठवण्यात येणाऱ्या नोटिसीमागे काहीएक कारण असते. नेहमीच करदात्याला त्रास देण्याचा उद्देश असतो हा समज चुकीचा

Clipped from: https://www.financialexpress.com/money/income-tax/taxpayers-can-now-access-new-i-t-annual-info-statement-on-e-filing-portal/2368962/ The Budget for 2020-21 had announced the revised Form 26AS, giving a more comprehensive profile of the taxpayer, going beyond just the details

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-save-real-estate-capital-gain/article37476049.ece I have a house and a flat, and the same are declared in my IT returns every year. Last financial year, I have

Clipped from: https://www.thehindubusinessline.com/business-laws/legitimate-tax-planning-not-taboo/article37048314.ece The Supreme Court, in a landmark judgment in the 1985 case of CTO Vs McDowell and Co Ltd, declared that “it is the

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/all-you-wanted-to-know-about-tax-relief-on-capital-gain/article37360112.ece?homepage=true An individual is eligible for relief on capital gains tax on sale of a residential property if s/he has purchased another residential property

Clipped from: https://www.thehindubusinessline.com/business-laws/not-a-business-activity/article36813151.ece A single transaction of buying and selling shares does not constitute a business activity, the Chennai bench of the Income Tax Appellate Tribunal

Clipped from: https://www.business-standard.com/article/pf/new-annual-information-statement-allows-you-to-get-mistakes-rectified-121110400362_1.html Make sure the information in your income-tax return and in this statement match, or you could get a tax notice Even if a

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbdt-notifies-e-settlement-scheme-for-taxpayers/articleshow/87498231.cmsSynopsis The relief was given to taxpayers who were eligible to file application as on January 31, 2021, but could not file the same

Clipped from: https://www.financialexpress.com/money/income-tax/i-t-dept-rolls-out-new-ais-for-taxpayers/2361418/ “The derived information in TIS will be used for pre-filling of Return (pre-filling will be enabled in a phased manner),” the department said.

Clipped from: https://indianexpress.com/article/explained/income-tax-annual-information-statement-form-26a-7603834/ The Budget for 2020-21 had announced the revised Form 26AS, giving a more comprehensive profile of the taxpayer, going beyond just the details

Clipped from: https://www.thehindubusinessline.com/economy/policy/it-department-rolls-out-new-format-for-ais/article37287332.ece This will have additional info on interest, dividend, among others The Income Tax Department on Monday rolled out a new format for Annual

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-on-diwali-dhanteras-festival-gifts-received-from-parents-son-daughter-family-friends-in-2021-explained/2357631/ Income Tax on gifts received from parents, son, daughter, friends, family, relatives: Not many of us are aware that some of the gifts