Table of Content Introduction of section 115BAA Introduction of section 115BAB Reduction in MAT rate Exemption from income tax to individuals earning upto Rs 5 lakh Abolition of Dividend Distribution Tax(DDT) Expansion of scope of TDS/TCS and reduction in TDS rates Extension of Due Dates Extension of time limit in Capital tax savings Instruments In…
Content What is input tax credit? AAR (Maharashtra) in case of M/s Nikhil Comforts Question raised by applicant Explanation by the applicant Report of concerned officer Conclusion What is input tax credit? Input tax credit means credit of the input tax. It could be claimed of any goods and services intended to be used in…
Table of Content What is the Taxpayer’s Charter? What are faceless Appeals? Widening the tax base Proposed Measures for Widening of the tax base What is the Taxpayer’s Charter? The taxpayer’s charter is a historical document that contains the right of the taxpayer and obligations associated with these commitments. The aim of the Charter is…
Concept Features of this platform Main focus of platform Expectations from taxpayer’s field Benefits of the platform Every person in the present scenario always thinks about its own extraordinary gains before doing any act in his/her life. This line speaks very beyond meaning for the topic which is going to be discussed below. To enhance…
Content What is Agricultural Income Examples of agricultural income Tax on agricultural income Steps of computation of taxable income Benefit under section 54B Quantum of exemption Agricultural income means the revenue earned from farming or agricultural land, building on agricultural land and any commercial product obtained from horticulture land. It may be received in cash…
Table of Content What is Form no 16? What is the difference between Form No 16 and Income Tax Return? Can I compute income tax at lesser amount than shown in Form 16? What will happen if I do not share my PAN or share wrong PAN with my employer? Besides my salary income, do…
Content How to e- verify the returns without login to e- filing portal? For which years can I e- verify the returns without login to e- filing portal? Requirements to e- verify returns. Steps to e- verify the returns without login to e- filing portal. How to e- verify the returns without login to e-…
Content: Under Section 44AD Under Section 44ADA Under Section 44AE Section 44AD (Provisions for computing profits and gains of business on presumptive basis) Applicability The provisions of this section will only apply to resident Individual/ HUF/ Firm (except LLP) and is optional to all assessee. This section is applicable only if the turnover should not…
Content What is intraday trading? What are the pros of intraday trading? What are the cons of intraday trading? What are the strategies for intraday trading? Taxation of gains and losses from intraday trading. What is intra-day trading? Intraday trading is that type of trading where buying and selling takes place within a day, and…
Income tax filing date is near so you have to file it with precaution because a small mistake can land you into a big trouble with the income tax department. Department can impose high penalty or even serve a notice. Here are Nine mistake that can be happen while filing Income Tax Return by the…