Income Tax News

There are two types of interest leviable for non payment of advance tax: Interest u/s 234B (Applicable when advance tax...

Section 194M was inserted by Finance Act 2019 to bring under the radar the income earned by professional and contractor...

Many of you must be receiving order/ notice u/s 200A from Income tax department for recovery of late fees for...

You might have seen people making huge default of Income tax and then they are being prosecuted and for tax...

Yesterday i.e. 31st October 2019 was the last date for filing of tax audit report except for those living in...

CBDT vide order u/s 119 Dt. 31st October 2019 extended the due date for filing Tax audit report and Income...

TDS in income tax i.e. Tax deducted at source is also a very confusing phenomenon for some people and they...

The monetary limit which CBDT suggest is applicable to Income Tax Department i.e. it provides a parameter that the department...

With the last few days for Tax audit there are many people who have still not finalized their books of...

Cost inflation index in Income Tax is used to give inflation effect to cost for long term capital asset purchased...

Section 269SU was introduced in the Income Tax Act vide Finance Bill, 2019 and is made applicable from 01.11.2019 to...

Before starting the discussion on Income tax chargeable on income of non-residents let's first understand who are ordinary resident, resident...

When one used to file a belated return of income u/s 139(4), he/ she used to file it very carefully...

After 31.03.2019 it was made compulsory by Income Tax department that refund of income tax will only be issued by...

Section 194A covers TDS on interest other than interest on securities and it says any person other than Individual and...