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.
Union Budget 2022 will be presented by Finance Minister Smt. Nirmala Sitaraman on 1st February 2022 at 11.00 AM. Post-Budget 2022 Press conference by Finance Minister will start from 3:45 PM onwards.
Below are the key highlights of the Economic Survey which is presented a day prior to the Budget 2022. Watch this space for Budget 2022 Live Updates tomorrow from 11 am onwards.