ITR filing within due date is mandatory for claiming deductions under section 80IB(10) : ITAT
Real estate developers and people involved in housing projects sector often face a dilemma regarding the claiming of deductions from tax as there are a lot of compliances to be made for them. Section 80IB(10) of the Income Tax Act, 1961, is a...
Section 133(6) Notice of Income Tax Act
Income Tax return filing season has just started, and taxpayers are gearing up with all the required information to be reported in their tax returns. Income tax authorities have issued notices in previous financial year to taxpayers who have...
What is Form 10E for Relief under Section 89(1)
Tax planning is one of the main financial compliance every person earning income must undertake primarily at the beginning of the financial year. It can sometimes seem like an intricate puzzle, with various rules and provisions governing how income...
Treatment of Amounts received on retirement forming part of salaries
No matter which country you opt to move for your employment, everywhere it is expected from the employees that they will get additional benefits and privileges upon completing their employment tenure or upon their retirement. In India, retirement...
TDS on property purchase
https://www.youtube.com/watch?v=Zk_sOxRk_34&t=4s
What is perquisites under income tax
Introduction:Individuals in employment often work hard achieve their personal financial goals. Salaries or wages are the considerations for the services provided by these employees to their organisation. However, if something more than just salary...
What is the meaning of Perquisites under Income Tax?
Introduction:Individuals in employment often work hard achieve their personal financial goals. Salaries or wages are the considerations for the services provided by these employees to their organisation. However, if something more than just salary...
Tax on Undisclosed Income
https://www.youtube.com/watch?v=SMfxxzqDY1g
Electoral Bonds Scrapped
https://www.youtube.com/watch?v=WpO91_FGzSQ
80GG and HRA
https://www.youtube.com/watch?v=s9TbeGCeY00
ITR U under section 139(8A) of Income Tax Act,1961
Introduction: Income tax return filing is one such task in India which almost every tax payer knows about but at times forget to complete this compliance. Many times due to certain circumstances or due to negligence or just not getting enough...
Form 10 IEA
Introduction: Income tax department have made their intentions clear in Union Budget 2023 to make new tax regime as default regime to file Income Tax Returns of all kinds of taxpayers. Earlier old tax regime was the default regime to file income...