Tax Audit Applicability W.E.F.Financial Year 2020-21 The finance Bill, 2020 Introduced a major amendment to section 44AB regarding Tax Audit Applicability of the income tax act an extract as follows,
Category Archives: Income Tax
Income Tax is the tax which directly levy on income of any personal.Central Board of Direct tax manage all the things related Direct Tax.
Tax Planning And Investment For Salaried Individuals We are in the last quarter of the current financial year i.e. 2019-2020, which will end on 31/03/2020. This is the high time everyone should take a look at their Tax planning and investments. In this article, I am sharing some important points and suggestions, especially for salaried […]
Key changes in ITR-1 you need to know before filing The Income Tax department has notified the Income-tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. Here’s a list of the 6 key changes introduced in the ITR1 for the financial year 2019-20. Passport details In this year’s ITR-1, taxpayers will have to […]
Section 269SU – Mandates to provide Digital Payment Facility Section 269SU Mandatory Requirement to Provide Digital Payment Facility by Certain Class of Persons Notification No. 105/2019-Income Tax dated 30th December 2019 We are moving towards Cashless economy and government has done a lot to remove black money circulation from our system. Cashless economy is the […]
Changes in the new IT return forms released by CBDT for AY 2020-21 The Central Board of Direct Taxes (CBDT) has notified Income Tax forms – ITR 1 and ITR 4 for A.Y. 2020-2021 well in advance. The said forms will be applicable for filing income tax return for the period April 1, 2019 to […]