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income tax act

Relaxation in provisions of TDS u/s 194A in view of section 10(26) of Income Tax

The Govt notified that no deduction of tax shall be made on the following payment under section 194A of Income Tax namely payment in the nature of interest...

CBDT extends timelines of certain compliances under Income Tax

The Central Government decided to extend the time limit for intimation of Aadhaar number to the Income-tax Department and due date for completion of penalty proceedings...

CBDT invites comments on framing rules for implementing the amendments made by The Taxation Laws (Amendment) Act, 2021

The Central Board of Direct Taxes (CBDT) has invited comments on framing rules for implementing the amendments made by the Taxation Laws (Amendment) Act, 2021....

Income Tax Audit Applicability at Glance

Section 44AB provides provisions relating to the class of Income taxpayers who are required to get their accounts audited. Read more about applicability of tax audit under Income Tax...

Provisions of Advance Tax under Income Tax

Advance tax means income tax should be paid in advance in installments as per the due dates prescribed by the income tax department....

Clarification on section 206AB and 206CCA

Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes effect from the 1st day of July 2021...

What is form 15CB?

Form 15CB is the Tax Determination Certificate in which the Chartered Accountant examines a remittance with regard to changeability provisions....

What is Form 15CA?

Every person making a payment to Non-Residents shall deduct TDS if such sum is chargeable to Income Tax and the details are required to be furnished in Form 15CA....

What is ITR-2?

ITR-2 form is mainly for individuals, non-residents and HUFs not having any income from profit and gains of business or professions. ITR2 form notified for AY 2021-22...