Category: Income Tax
CBDT issues guidelines for conducting electronic assessments during financial year 2019-20 through ‘E-Proceeding’ facility whereby assessees are required to electronically respond to any notice issued by the Assessing Officer …
To reduce litigation, facilitate ease of doing business and to remove long pending grievances of taxpayers in the matters of direct/ indirect taxes, the Govt. has decided to raise …
New/ Revised Income-tax return (ITR) forms for Assessment Year 2019-20 have been notified on 1st April 2019, followed with release of Excel/ Java Utility and Instructions to support filing …
CBDT has issued revised Guidelines (2019) on Compounding of Offences under the Direct Tax Laws, applicable from 17 June 2019. The new guidelines prescribes certain offences which generally can’t …
CBDT amends IT Rules to allow declaration in Form 15H for payment of certain income without TDS from a senior citizen whose income is higher than the basic exemption …
CBDT has notified that Part B of Salary TDS Certificate in Form no. 16 has to be issued by downloading the same from TRACES website/ prtal, in respect of …
CBDT has notified Income-tax (3rd Amendment) Rules, 2019 for making changes in Form 16 (Salary TDS Certificate) and Form 24Q (Salary TDS Return), applicable w.e.f. 12 May 2019, to …
The restriction of investment in one residential house only for claiming capital gains exemption under Section 54 of the Income Tax Act, 1961 has been partially relieved by the …
Taxability of deemed rental income, on account of notional rent of second self-occupied house property, has been exempted from tax liability, under Section 23 of the Income Tax Act, …
The threshold limit for deduction of TDS on Rent Payment under Section 194I of the Income Tax Act, 1961 has been increased from Rs. 1,80,000 to Rs. 2,40,000, applicable …