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Showing posts from April, 2020Show All
Income Tax Articles
Employer’s Contribution to NPS above Rs. 750000 after Finance Act, 2020 - A case of Double Taxation
Employer’s Contribution to NPS above Rs. 750000 after Finance Act, 2020 -…
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Income Tax Articles
Amendment in TDS Section 194J by Finance Act, 2020
Amendment in TDS Section 194J by Finance Act, 2020: Finance Act 2020 has…
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Income Tax Articles
Government rejects controversial IRS Report FORCE for hiking and imposing super rich tax amidst COVID-19 distress
Amidst corona distress, a controversy has erupted in the country over the…
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Income Tax Circulars
CBDT defers Clause 30C and Clause 44 of the Tax Audit Report in Form 3CD on GAAR and GST to March 2021
CBDT issued an Order under section 119 of the Income-tax Act, 1961 vid…
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Income Tax Articles
Equalisation Levy 2020 on Non Resident e-Commerce Operator
Finance Act, 2020 has amended the provisions of Chapter VIII of Finance…
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Income Tax Circulars
CBDT issues Circular clarifying provisions of Direct Tax Vivad se Vishwas Act, 2020-set of 55 FAQs
CBDT issues further clarification on provisions of the Direct Tax Vivad…
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Income Tax Circulars
CBDT Clarifications on Income Tax Refunds Adjustment Notice under section 245
CBDT says observations on social media regarding Income Tax Department pu…
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Income Tax Articles
Section 115BAC and TDS from Salary Income-Guide for Employers
How to deduct TDS from Salary as per New Tax Regime: After the introduc…
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Income Tax Circulars
CBDT revising ITR Forms for AY 2020-21 to avail timeline extension due to COVID-19
In order to enable income taxpayers to avail full benefits of various tim…
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Income Tax Articles
Changes in TCS Provisions from FY 2020-21 after enactment of Finance Act, 2020
Changes in TCS provisions in Finance Act, 2020 Vs proposals in Finance Bi…
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Income Tax Circulars
CBDT releases pending Income Tax Refund to MSMEs during COVID-19
As a relief to MSMEs, income tax refunds worth Rs.5,204 crore have been i…
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Income Tax Articles
A Guide to PM CARES FUND
In pursuance of an appeal by the Prime Minister Narendra Modi on 28 Marc…
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Income Tax Articles
RBI COVID-19 Package and Relief providing Additional Measures for 2nd Time
RBI has announced the second package to preserve financial stability …
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Income Tax Articles
What is the applicable Minimum Alternate Tax (MAT) Rate for AY 2020-21
The Minimum Alternate Tax or MAT rate for the AY 2020-21 (or FY 2019-20) …
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Income Tax Circulars
CBDT releases pending Income Tax Refund to taxpayers during COVID-19
On 8th April 2020, the government has clarified that the Income Tax Depa…
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Income Tax Circulars
CBDT Clarification on Short Deduction of TDS/TCS after increase in Surcharge by Finance (No. 2) Act, 2019
CBDT issues Circular No. 8/2020 dated 13th April 2020 clarifying the i…
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Income Tax Circulars
CBDT Issues Circular to Clarify Option under Section 115BAC and TDS by Employer
CBDT has issued a Circular No. C1/2020 dated 13.04.2020 to clarify the d…
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Income Tax Articles
How to Contribute to PM CARES FUND
The government has set up a public fund namely ‘ Prime Minister’s Citizen …
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Income Tax Circulars
Govt Extends PPF and SSA deposit date for FY 2019-20 amid COVID-19 synchronizes with section 80C deduction
In order to safeguard the interests of small savings depositors of Public …
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Income Tax Circulars
MCA Clarifies No COVID-19 CSR Expenditure for Contribution to Chief Minister Relief Fund but Allowed for PM CARES Fund and Other CSR Clarifications
Ministry of Corporate Affairs (MCA) has issued a clarification vide Gener…
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Income Tax Articles
Section 194K - TDS on Income from Mutual Fund Units and furnishing Form 15G/Form 15H
Finance Act, 2020 has introduced a new section in the Income Tax Act, 19…
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Income Tax Circulars
CBDT Clarifies Deduction for Collective Donation to PM CARES FUND under section 80G to Employees through Employer
It is not uncommon to make group donation by the employees of an organiza…
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Income Tax Circulars
CBDT Issues Clarification on Orders for Validity of Lower TDS Certificates
CBDT has issued a clarification on 09.04.2020 in the form of questions a…
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Income Tax Articles
No Extension of Due Date of TDS payment for March 2020 onwards amid COVID-19
TDS payment due date for March 2020 extended or not for COVID-19 pandemic…
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Income Tax Articles
All About Donation and CSR expenditure to Prime Minister’s National Relief Fund (PMNRF)
Prime Minister’s National Relief Fund (PMNRF) was established in 1948, mu…
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Income Tax Circulars
COVID-19 Relief - Income Tax Refunds up to Rs 5 lakh to be released immediately
The government has clarified that the Income Tax Department will release a…
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Income Tax Circulars
Pradhan Mantri Garib Kalyan Package- Insurance Scheme for Health Workers Fighting COVID-19 - FAQs
Ministry of Health and Family Welfare has issued 17-FAQs on 07.04.2020 cl…
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Income Tax Articles
Donation to PM CARES FUND and CM Relief Fund qualifies for CSR Expenditure amid COVID-19
Enactment of Companies Act, 2013 by the Ministry of Corporate Affairs, Go…
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Income Tax Articles
ITAT holds Video Conference on ‘The Direct Tax Vivad Se Vishwas Act, 2020’
Government has released a press note informing the details on the video c…
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Income Tax Articles
Section 80G deduction for Donation to West Bengal State Emergency Relief Fund
The Government of West Bengal has constituted a relief fund namely West…
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Income Tax Articles
Deduction for Collective Donation under section 80G to Employees through Employer
It is not uncommon to make group donation by the employees of an organiza…
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Income Tax Articles
Analysis of New Extended Due Dates for Compliances and Investments under Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020
The government has promulgated Taxation and Other Laws (Relaxation of Cer…
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Income Tax Circulars
CBDT issues orders u/s 119 to mitigate hardships to taxpayers arising out of compliance of TDS or TCS provisions
In a press note dated 04-04-2020, the Ministry of Finance has stated abou…
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Income Tax Circulars
CBDT Orders Speedy Disposal of Lower TDS Certificates FY 2019-20
CBDT issues Order u/s 119 of the Income-tax Act, 1961 on the issue of cer…
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Income Tax Circulars
CBDT Orders Relief for submission of Form 15G and Form 15H for Financial Year-2020-21
CBDT extends the validity of Form 15G and Form 15H: To mitigate the genui…
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Income Tax Circulars
CPSEs Pay Tax Dues under Vivad Se Vishwas Scheme
Several Central Public Sector Enterprises (CPSEs), under the Ministry of …
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Income Tax Circulars
15 FAQs on RBI Moratorium on EMI
Last week, the Reserve Bank of India announced a three-month moratorium …
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Income Tax Articles
Deduction under section 80G for Donation to PM CARES Fund
Donation or Contribution to PM CARES Fund is fully exempt under section 8…
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Income Tax Circulars
Govt Notifies Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020
The government notifies Taxation and other Laws (Relaxation of Certain Pr…
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