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Showing posts from October, 2020Show All
Income Tax Circulars
Scheme for Grant of Ex-gratia Payment of Differential Interest for Six Months Loan Moratorium to Borrowers with FAQs
The government had announced on 23.10.2020 the scheme for grant of ex gratia pa…
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Income Tax Circulars
CBDT issues Notification Extending Due Dates for Tax Audit Report and ITRs for AY 2020-21
CBDT vide a press release issued on 24.10.2020 extended the due date for fur…
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Income Tax Circulars
Tax Exemption on LTC Cash Voucher Extended to Private Sector Employees
The government has extended the benefit of Income-tax exemption for the payme…
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Income Tax Articles
Analysis of Deduction u/s 80JJAA for Employment of New Employees
Section 80JJAA of the Income Tax Act, 1961 is a tax incentive for employment g…
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Income Tax Circulars
CBDT issues Clarification on Extended Payment Date under Vivad se Vishwas Scheme
CBDT vide Circular No. 18/2020 dated 28.10.2020 has clarified that where a de…
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Income Tax Circulars
CBDT Notifies Equalisation Levy (Amendment) Rules, 2020
CBDT vide Notification No. 87/2020 dated 28.10.2020 has amended the provisio…
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Income Tax Circulars
CBDT Extended Payment Date for Direct Tax Vivad se Vishwas Scheme without Additional Amount
CBDT vide Notification No. 85/2020 in S.O. 3847(E) issued on 27.10.2020 has e…
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Income Tax Case Laws
Section 50C does not apply to Leasehold Rights in Land or Building- ITAT
ITAT Delhi in the case of Noida Cyber Park Pvt. Ltd. vs. ITO held that assess…
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Income Tax Circulars
CBDT allows Recognised Provident Fund Trusts to Invest in Lower A-rated Instruments
CBDT vide Notification No. 84/2020 dated 22.10.2020 and through Income-tax (…
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Income Tax Circulars
CBDT further Extends Due Date of Tax Audit Report and filing of ITR for AY 2020-21
After various representations to the government finally, CBDT has extended the…
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Income Tax Articles
5% Cash Limit of Receipts and Payments for Tax Audit-Section 44AB
From Assessment Year 2020-21, the turnover limit, for a person carrying on busi…
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Income Tax Circulars
CBDT issues Order for exercising Power of Survey u/s 133A
CBDT issues Order for exercising Power of Survey u/s 133A: CBDT has issued an…
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Income Tax Articles
Is Interest paid on Late Deposit of TDS allowed as Business Expenditure u/s 37
Due to ongoing COVID-19 pandemic and the imposition of nationwide lockdown, m…
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Income Tax Circulars
CBDT Order u/s 119 - Exercising power of intrusive or coercive action for recovery of tax demand
CBDT vide an Order u/s 119 dated 16.10.2020 has restricted the coercive or intr…
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Income Tax Circulars
CBDT Order u/s 119 Assigning the Role of Pr.CCIT under Faceless Appeal Scheme, 2020
CBDT vide its Order u/s 119 dated 14.10.2020 has assigned the role of Pr.CCsI…
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Income Tax Circulars
Revised Jurisdiction Order regarding Equalization Levy
Principal Chief Commissioner of Income-tax (International Taxation) has vide …
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Income Tax Articles
FM Announces tax-free LTC Cash Vouchers, Special Festival Advance and Other Schemes to Boost Demand
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here…
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Income Tax Articles
Interest on Excess Refund of Income Tax - Section 234D
When any refund of income tax is granted to an assessee and later on it is fo…
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Income Tax Articles
Tax Exemption on Transfer of Assets between Holding and Subsidiary Company
Under the existing provisions of section 47 of the Income-tax Act, 1961 (“Act”)…
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Income Tax Articles
Practical Cases on TCS on Sale of Goods Section 206C(1H)
In this earlier article , the issues with the new provisions of TCS on Sale of …
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Income Tax Circulars
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q3 2020-21
Govt notifies PPF NSC SSY and Other Small Savings Scheme Interest Rates for Q…
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Income Tax Articles
Key Highlights of Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
Government has notified the Taxation and Other Laws (Relaxation and Amendment…
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Income Tax Circulars
CBDT amends Tax Audit Report Form 3CD, ITR 6, Form No 10-IE and 10-IF for section 115BAA, 115BAB, 115BAC, 115BAD and Rules from AY 2020-21
CBDT vide Notification No. 82/2020 dated 01.10.2020 has notified amendments i…
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