CBDT further extends the income tax return filing due date (IT return due date) for FY 2020-21 from 31st Dec 2021 to 15th March 2022 for individuals whose accounts do not require an audit. This extension comes in light of the difficulties faced by taxpayers due to the COVID-19 pandemic.
CA Exam postponed due to ongoing floods in Assam. The Institute of Chartered Accountant of India has made an important announcement on 19th May 2022 with regard to CA Final Exam.
Form 16 is a certificate of tax deduction at source. In simple words, it is proof of the tax deducted from your salary by your employer. As a taxpayer, you need form16 to file your income tax return for the financial year.
Also, it is mandatory for the employer to issue Form 16 under section 203 of the Income Tax Act, 1961. In this article, we will see what is Form 16, Eligibility salary, and how to get Form16 online.
80GG Deduction of the income tax act is one of the tax deductions you can claim for the rent paid by you. In this article, we shall see the eligibility criteria to claim Deduction under section 80GG, the maximum limit allowed and how to claim.
New Form 26 AS released by Income Tax Department is an Annual Information Statement. The Central Board of Direct Taxes amends the Income-tax Rules, 1962. The New Form 26AS will come into effect from 1st June 2020.
CBDT provides one-time relaxation for electronically filed ITR V verification. It is applicable for the IT Returns filed for Assessment Yrs 2015-16 to 2019-20, which are pending due to non-filing of ITR-V form & processing of such returns. CBDT issues Circular No.13/2020 on 13th July 2020 in this regard.
GSTR-3B form which is to be filed monthly by all registered dealers on the GSTN portal can now be filed through SMS from the registered mobile number.
With effect from 8th June 2020, the government is enabling the filing of GSTR-3B NIL return through SMS directly.
PAN Card is a valid identity proof that is necessary for all financial transactions. Moreover, it is mandatory if you desire to file your income tax return. You can apply for PAN card either online or offline. This article will see in detail the step by step procedure to apply for PAN Card online through NSDL and UTIITSL.
The income tax slab for AY 2021-22 below applies to individuals (resident or non-resident), HUF, Association of Person or Body of Individual, companies, partnership firms and companies. The income tax rate depends on the income slab that your income falls under and whether you opt for New or Old tax regime.
We have provided the tax slabs under the existing tax regime and the new tax regime to help you choose a suitable tax regime. Also, you may use the income tax calculator to find out your total tax liability.
INC 20A is a declaration of commencement of business that every company must file if the company’s date of incorporation falls on or after 2nd Nov 2018. Furthermore, the company must file INC-20A within 180 days of the company’s incorporation. And a Company Secretary or a Chartered Accountant or a Cost Accountant in practice shall verify the reform.