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Search results for: Income tax Act

How to Generate Tax Return XML File on New 2.0 Portal?

Full Process to Generate XML File of Your ITR on New Portal

ITR can be furnished in two ways: online and offline. In the traditional method, you can enter all the important information on an online form and submit it. Through the earlier means, one needs to download the subject income tax utility either in excel or JSON format, fill the form, save the changes, generate an […]

All Information of TDS Challan 26QC & Form 16C

All About 16C Form & TDS Challan-cum-statement Form 26QC on Rent

Let’s discuss more the form 16C and challan 26QC for deducting the TDS on rent. So as to draw a higher rental income group under the tax, the government in budget 2017 has incorporated a new section 194IB. Provision, the person and HUFs who file the rent of INR 50k or more shall need to […]

New Portal Seeing Steady Progress

Infosys Developed New 2.0 ITR Portal in Steady Progress, Says CEO

Infosys who is under issue for its new income tax return filing portal, specified by its CEO Salil Parekh that the new ITR portal made through his company is seeing growth and declares that there are 1.9 cr returns that have already been furnished through this portal. “He further said that taxpayers’ concerns are being […]

ITR Filing Exemption for Non-residents Investors

No Need to File ITR for Specified Non-residents & Foreign Investors

The income tax department has provided relief upon some non-residents and foreign investors from filing ITR from FY 2020-21, an initiative that has a motive to simplify the compliance load. Via notification department of Central Board of Direct Taxes (CBDT) specified that non-residents (corporates or others poses no income excluding the income through the investment […]

Best 5 XBRL Software for CA and CS

Best 10 XBRL Return Software for Preparation and Validation

XBRL can be implemented for various business and financial information. The best XBRL software can manage other things such as company internal and external financial reporting, filing loan reports, and applications like credit risk assessments. XBRL is the language for the electronic communication of business and financial data that is revolutionizing business reporting all across […]

CBDT Delhi New 20 SOPs

CBDT New 20 Guidelines of SOPs for All Directors of Investigation Department

Following the ‘Gujarat model’ of the income tax investigation, the Central Board of Direct Taxes (CBDT), Delhi, has passed the guidelines for all the director generals of the income tax investigation department, telling them to follow a standard operating procedure (SOP) that indulge particular methods which being from the devising stage of research and capture […]

Steel & Mining Companies May File Petition Over 18 Percent GST

Steel & Coal Firms Challenge Govt for GST on Licence, Royalty Fees

There are various steel manufactures and coal mining firms that have outreached to their respective legal experts to look into options to challenge the current government diktat to tax opening royalty and license fees within the Goods and Services Tax (GST) framework. Recently when the meeting was held the government has informed that any royalty […]

How to Rectify TDS Mismatch of Form-16 and 26AS

ITR Filing: Solution for TDS Mismatch Between Form 26AS & 16

Taxpayers must have to submit their certain Income tax Returns under the specified time span to escape fines. However, there are majorly two documents that one should require for filing their annual returns namely form 16 and form 26AS. These two documents are equivalent and should match in all ways to ensure that your Income […]

50 lakh MSME Registration on Udyam Portal

50 lakh Registration Setup Creates New Milestone on Udyam Portal

The Simplicity of Executing Business for MSMEs Approximately 50 lakh enrollments have been done on the Zero-cost MSME registration portal Udyam in just 14 months since its start on 1st July 2020. The first 25 lakh enrollment has been reported on the latest paperless portal in 8 months on 5th March 2021 and the mentioned […]

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