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The thought of the small company was started in the Companies Act 2013 to furnish specific benefits for small businesses that are functioning as private limited companies. Small companies are the supporters of the country’s economy. What is a Small Company? Small companies are said to be private limited companies, partnerships, or sole proprietorships that […]
The government of India has declared in the union budget for 2019 an incentive to buy electric vehicles (EV). Inside the budget, the finance minister has specified that the advanced battery and the enrolled EVs shall motivate by the policy. Latest section 80EEB of the income tax act 1961 has started which permits the tax […]
This is the time of year when employees of many firms start receiving requests to share details of their tax-saving investments with their employers. However, before that, you have to choose whether you want to opt for the new tax regime or the old tax regime. Budget 2020 has come up with a new tax […]
With the better feasibility despite the former jobholders seems to do the freelancing on the sideways in all the industries along with the sales, education, delivery, IT, and data processing. The supplemental income earned via independent work needs to be provided to the tax below the income tax act. Income Tax Return On Freelancing The […]
The status of the residential person poses an essential role in finding out the method of his or her income that shall come under the tax for that year in India. Moreover, non-resident Indians NRIs and Persons of Indian Origin (PIOs) are very careful in preparing their stay in India for the specific year so […]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) ruled that the rental income obtained via sub-leasing of the property comes under the income of business of the taxpayer as this comes under the business of the taxpayer’s organization. Prior to that, the assessing officer treated the lease rental income earned through the taxpayer […]
What is the Method to Manual Check Bulk PAN/TAN Service? The validation of the Bulk PAN or TAN service is available to external firms. The external firms consist of the Union and State Govt Departments or undertakings, RBI-approved Banks, recognized autonomous bodies and Financial Institutions. Upon its enrollment as an external agency on the income […]
The income tax IT department secures the latest Annual Information Statement (AIS) on the compliance portal that furnishes a complete object of the details to the assessee with the facility to take online feedback. AIS is much more described in detail with respect to the previous Form 26AS that consists of effective details towards the […]
The ITR filing procedure does not finish at the stage of verification. When the person has validated his own tax returns the income tax department then initiates the process of the tax return. Post to the process of income tax return the income tax department sends the intimation notice. Under section 143(1) of the Income-tax […]
