Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
A new form for filing updated IT returns has been announced by the Income Tax Department. In this form, taxpayers should provide the reason for filing and the portion of income to be allowed for taxation purposes. ITR-U is a new form that taxpayers can use to file updated income tax returns for the Assessment […]
All employees are qualified to claim a specific number of paid leave every year. The paid leaves come under the incentives offered by the employers to join that company. The income tax laws permit the exemption for encashment of these paid leaves partly as well as fully. Leave and Encashment Sorts The leaves on which […]
The income tax portal 2.0 is a user-friendly model of the original website. The same has the advantageous upgrades concerned to the ITR filing and the management. The process is smoother to manage and the platform furnished various levels of services related to tax in the new version. The effective specification of the e-portal comprises: […]
As technology has come around most of the income tax (IT) departments’ communication addressed to the taxpayer is provided to his or her enrolled email. The Delhi High Court in Venad Properties Pvt ltd. vs. Commissioner of Income Tax (2013) 212 Taxman 20, ruled that the object and the intention of the service of the […]
In India, the rental income comes in compliance with the income tax. If you own a property and have rented it to another one then you are required to know the method to minimize the tax load. The rental income from real estate investments would be very much better for your portfolio returns. Thus as […]
A division bench of the Delhi high court reused the income tax notice and the assessment order on the basis of the personal hearing was not granted to the taxpayer. In the confrontation with the high court, the taxpayer as a single person challenged the assessment order on the date 07.06.2021 provided beneath section 143(3) […]
Definition of Section 80P for Co-operative Society A cooperative society is not being found out, particularly for the intention of section 80P. But section 2(19) of the Income Tax Act, 1961, defined the co-operative Societies Act, 1912 or beneath the additional law of controlling the enrollment of the co-operative societies in any state. Note: “The […]
Form 10B is to be filed via a trust or institution that holds the enrollment u/s 12A or that submits an application for enrollment via furnishing of the Form 10A. Form 10B poses an audit report that is furnished by a CA on the assessee’s nomination. Income tax form 10B would be accessed and submitted […]
Know About Statement of Financial Transaction Statement of Financial Transaction (SFT) poses the report of the mentioned financial transactions by the particular individual along with the stated reporting financial institutions. These people who enrol, maintain or record these particular financial transactions are compulsory to submit SFT to the income tax authority or these people, authorities […]
