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The whole country is trying to fight the outbreak of COVID-91 in its own way. The government is also taking the necessary decisions to control the further spread of coronavirus. Lockdown is imposed by the government for the same. The whole country will be locked down till 14th April, 2020, but some changes will be […]
It is expected that the Income Tax Department will be losing approx 10% of the total income tax collections due to the outbreak of Covid-19. The department is expected to recover INR 10 lakh crores to INR 10.5 lakh crores against its actual target of INR 11.6 lakh crores. The department has already collected a […]
As you know, normally, the last date of the financial year is March 31. But this time means in the financial year 2019-2020 If you have not made an investment or a deposit to avail of the exemptions under the Income Tax Act for the FY20 yet, then there is nothing to worry about because […]
The union finance minister Nirmala Sitharaman has finally taken some relief measures on the basis of currently widespread coronavirus pandemic. The decisions are taken to provide relaxation to the various sectors as well as to the taxation industry. In her video conference with all the state finance ministers and panel, she has talked on all […]
Tamil Nadu Vanigar Sangankalin Peramaippu requested the Centra and State Governments to extend the last date of filing the Income Tax Return Get all due dates of income tax return and payment of advance taxes for FY 2018-19 (AY 2019-20). We update the last date as per the IT department notifications and Goods and Services […]
Tax Evasion is still prevalent on a very large scale in India as taxpayers are now deemed to have given false information of sales in self-declared returns to escape tax levy. Mentioned under the provisions of GST, all e-commerce portals (except service based websites) are expected to get their businesses registered under GST Network. No […]
Income Tax Department of India issues a unique alphanumeric number called Permanent Account Number (PAN) under section 139A of Income Tax Act, 1961. Section 139A also contains some provisions related to the (PAN) that are required to be complied with. In case of failure, the penalties are to be imposed on the defaulter. All these […]
The Central Board of Direct Tax (CBDT) modified the provisions of the Income Tax Act related to the collection of Taxes from the salaried staff. The changes were made for the Financial Year 2019-20. Mr. Naveen Kapoor, the Secretary of Government of India was issued a circular by the department comprising the changes in Paragraph […]
The Ministry of Defence on Tuesday has directed the Principal Controller of Defence Accounts (PCDA) to stop deducting income tax from those pensioners affected by disability and withdraw the contentious circular issued to that effect. The ministry stated in the order that, “In view of the directions of the Supreme Court, PCDA(P), Allahabad may be […]
