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QR – 66 Obtaining & Furnishing of Audit Report
Regarding obtaining & furnishing of the audit report u/s 92E of the Income Tax Act, 1961 relating to international transactions & specified domestic transactions (Transfer Pricing) and furnishing of return of income thereof for the assessment year 2020-21 1. Chapter X of the Income Tax
QR – 65 Getting The Accounts Audited And Furnishing Of The Audit Report
Regarding getting the accounts audited and furnishing of the audit report under various provisions of the Income Tax Act, 1961 {besides section 44AB and section 92E} for the assessment year 2020-21 1. As per different provisions of the Income Tax Act, 1961, besides section 44AB of
Ambiguities Due to Extension of Due Dates for ITR
Ambiguities Due to Extended Due Date for ITR “CBDT has further extended the due date of filing an income tax return to 31st December 2020 in Non-Audit cases and to 31st January 2021 for Audit cases. However, some contentious issue arises which have been discussed
Govt. Notifies December 31st as the cut-off Date For Filing Declaration under the Vivad se Vishwas Act, 2020
Govt. notifies December 31st as the cut-off date for filing declaration under the Vivad se Vishwas Act, 2020; Also, extends timeline from December 31st, 2020 to March 31st, 2021 for making payment without additional amount. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the
Which Income Tax Return Form You Should File
Which Income Tax Return Form You Should File Form Who is eligible to use this Return Form Who is not eligible to use this Return Form ITR-1 SAHAJ This Return Form is to be used by an individual who is a resident other than
Due Date of Tax Audit is Extended
Extension of the due date of furnishing of Income Tax Returns and Audit Reports In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of
Summary of Key Findings And Recommendations In The CAG’s Performance Audit Report On Income Tax Search And Seizure Assessments
Summary of Key Findings And Recommendations In The CAG’s Performance Audit Report On Income Tax Search And Seizure Assessments (Report No.14 of 2020) Performance Audit Report No.14 of 2020 on Search and Seizure Assessments in Income Tax Department, Union Government, Department of Revenue – Direct
[721 pages] Instructions for filing of Income-tax returns A.Y. 2020-21: CBDT
Instructions for filing of Income-tax returns for A.Y. 2020-21-General Instructions These instructions are guidelines to help the taxpayers for filing the particulars in Income-tax Return Form-1 for the Assessment Year 2020-21 relating to the Financial Year2019-2020. In case of any doubt, please refer to relevant
Form 3CD – Schema Change Document Version 1.21
Form 3CD – Schema Change Document Version 1.21 1 Purpose The purpose of this document is to track the changes done in Form 3CD Schema post first release. 2 Release changes The below section describes the list of XML schema changes since the first production
TCS under section 206C(1H) of income tax Act
TCS under section 206C(1H) of income tax Act Article on Tax Collection at Source as per Section 206C(1H) of Income Tax Act,1962, W.E.F.01.10.2020. Dear Colleagues, Greetings of the day. I have received requests from our tax professionals to prepare an article on “ Tax Collection
Compliance calendar for the month of October 2020
Compliance calendar for the month of October-
Income Tax ComplianceFAQ’s on TCS on goods u/s 206C(1H) from 1-10-2020
What is TCS on goods u/s 206C(1H) This is a new TCS on goods u/s 206C(1H) of the income tax Act. It is applicable when the total gross receipts or turnover in the previous year was more than Rs. 10 crores. This provision is applicable to from