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Search results for: income tax department

TDS Section 194N on Cash Withdrawal

Introduction & Applicability of TDS Section 194N on Cash Withdrawal

Introduction of TDS Section 194N Keeping in mind the blueprint of the cashless economy, the BJP-led government is frequently introducing reforms in the laws to achieve the goal. Starting with demonetization, the government has come up with new laws in the constitution which fulfil the purpose of the cashless economy in the nation. Section 194N […]

Changes in Section 271J

Attention CAs! Find All Changes in Section 271J of the I-T Act

The onset of the Tax Audit spell is a buzzing alarm for CAs to update their knowledge about different clauses of the Form 3CD and form a checklist to move in tune with Tax officials. C.A.s may prepare and follow a step-by-step procedure which is in compliance with the I.T. rules and regulations to stay […]

GSTR 9C Reconciliation Statement

Understanding GSTR 9C Part II Reconciliation of Gross Turnover

Valid For taxpayers whose annual aggregate turnover is above 5 Crores For FY 2020-21, 2019-20 & 2018-19 and for FY 2017-18 it was more than 2 Crores only. GSTR 9C is now a Self-Certified form From FY 2020-21 onwards before that it was an audit form for taxpayers. Now Taxpayer may self certify his/her annual […]

income tax filing high rate

ITR Filing: ITRs are Getting Filed with High Rate; Choose The Correct One For You

It is mandatory for all Resident as well as Non-Resident Indians to file ITRs whose total income exceeds Rs 2.5 lakh. This threshold extends to Rs 3 lakh and Rs 5 lakh for senior citizens of age above 60 years and super senior citizens of age above 80 years respectively. However, the extended due date […]

ITR 6 Filing Guide

Step-by-Step Guide to File ITR 6 Online AY 2024-25

The ITR-6 Form for Income Tax Return filing with the IT department of India is meant for only those companies that are not claiming exemption u/s 11 (Income from property held for charitable or religious purposes) New Update in Form ITR 6 Get Demo of Gen IT Software for ITR 6 Form Who Can File […]

ITC Misuse

GST: Hundreds of Fake Companies Playing on the Name of ITC Claim

The government has identified hundreds of fake companies taking input tax from the government in the name of the goods and services tax (GST). Now the government is set to take action against them. These companies besides taking the input credit from the government in a fraudulent way, also help other companies in stealing GST. […]

LLP to Privated Limited Company Conversion

Easy Guide to Convert LLP into Private Limited Company

Limited Liability Partnership is a term in the companies act which offers the partners to be limited in their personal liability towards any company in case of any liquidation or dissolution of the firm. Here we will make understand all the relevant and important points under the limited liability partnership including; Latest Update Membership of […]

GST & GAAR Details Tax Audit Form

Revised Due Date for GST & GAAR Details in IT Audit Form

I-T dept again suspended the inclusion of details regarding GST & GAAR in tax audit report till 31st March 2020 that means the reporting necessity of GST and General Anti-Avoidance Rules (GAAR) details in income tax audit form has been suspended till March 2020. The mutation seemed to be backbreaking for the companies and the […]

ITR 4 Form Filing Guide

Step by Step Guide to File ITR 4 Form Online for AY 2024-25

What is the ITR 4 Sugam Form? ITR stands for Income Tax Return and ITR 4 Sugam Form is for the taxpayers who are filing return under the presumptive income scheme in Section 44AD, Section 44ADA and Section 44AE of the Income Tax (IT) Act. If the turnover of the aforementioned business becomes more than […]

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