Taxation

1. Section 80C: Deduction up to Rs 1.5 lakh on home loan principal repayment. 2. Section 24b: Deduction up to Rs 2 lakh on interest repaid during pre and post construction period. 3. Section 80EEA: Additional...

As per the notification the last date for online SEIS claim application (Service Exporter for FY 2018-19 and 2019-20) has been extended till 28th February 2022

Form 16- Basics Form 16 is a crucial document for a salaried individual, especially if the employer has deducted tax on income. Form 16 is essentially a certificate provided by the employer to the employee...

Due to COVID-19 pandemic and challenges faced by taxpayers, The Government has extended due dates of Direct Taxes. Chart of Due dates/Extended due dates under Income Tax Act, 1961  Nature of Compliance ...

CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 01st April 2022. The existing limit of 50 crores has been reduce...

- Mandatory ITR if Gross Income exceeds INR 2.5 Lakh - Advance Tax liability if Tax is above INR 10000. - Every professional service rendered by you is subject to 10% TDS. Like every salaried individual,...

Notification No. 62/2020 – Central Tax dated August 20, 2020 being issued to bring in change in GST Registration Procedure. The CBIC vide Notification No. 62/2020 – Central Tax dated August 20, 2020 has made certain amendments in...

As per the recent tweet of the Central Board of Indirect Taxes and Customs (CBIC), the Last date for filing Form GSTR 4 for the FY 2019-20 has been extended to October 31, 2020. Source:...

On 21st April Central Board of Direct Tax (CBDT) issued https://www.incometaxindia.gov.in/communications/notification/notification-37-2022.pdf through which Central Government (CG) has introduce Rule 12AB, the Income Tax Rules, 1962 regarding some new conditions for furnishing the Income Tax...

Form ITR-1 (Sahaj): This form is for Individuals being a Resident (other than not ordinarily resident) having total income upto Rs. 50 lakhs, having Income from Salaries, one house property, other sources (Interest, etc.), and agricultural income...