FM Nirmala Sitharaman proposed the addition of Section 194K in the Finance Act during the Budget 2020. Read the article to understand the implications of section 194K.
Income Tax Latest News,Notifications,Circulars & Announcement Updates.We decode and simplify all the income tax notifications regularly and its related information here.
Section 80M has been inserted in the Finance Act by our FM Nirmala Sitharaman in the Union Budget 2020. Read our detailed article on section 80M.
Union Budget 2020 Highlights: PDF Download, Key Takeaways, Important Points: Get Union Budget 2020 Highlights & latest News Updates,
Budget 2020 Expectations will be presented by Finance Minister, Nirmala Sitharaman, on the 1st of February 2020. Read our expectations from the Union budget 2020 here.
Section 269SU has been introduced by the income tax department and has prescribed certain modes of payment for any business establishment. Read more here.
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New ITR forms - ITR-1 and ITR-4 for the FY 2019-20 (AY 2020-21) has been notified. It will help the taxpayers to be ready with all the requisite information and file their income tax returns with ...
As per Section 147 of the Income Tax Act, 1961, the Income Tax Department has the power to reassess an individual’s previously filed income tax returns. Read here for more information.
Here are the FAQs on set off and carry forward of capital losses and business losses. Read them and know about the set-off of capital and business losses.
Taxpayers may make an error in income tax payments such as wrong tax category, assessment year and so on. Taxpayers can correct the error in the tax challan through the bank or assessing officer.
Read about the allowances and deductions available to a salaried person and documents they need to submit to avail them in this article.
In the Union Budget 2019, the Finance Minister proposed the introduction of a scheme of faceless e-assessment. Read more about e-Assessment scheme 2019.
The income tax refund amount may become recoverable upon a regular assessment along with the interest under Section 234D. Read more here.
The income tax department has prescribed guidelines for verification of suspicious transactions and bank transactions. Read more here.
Taxpayers belonging to the below categories are required to mandatorily sign their income tax returns using a DSC. Read here to know more.
When an employee receives a sign-on bonus and has to return it due to change of employer, should the bonus be taxable to the employee? Read this case law.
You can add previous years’ losses to your income tax return. The procedure to claim your previous year losses on www.cleartax.in is here.
Your e-filing account will hold sensitive personal & income tax-related information. You can secure this account from frauds by activating an e-filing vault.
People tend to change jobs for a better pay scale or to acquire new skills, and when you do this within an FY, you will have more than one Form 16. Read more.