CBDT notifies New Income Tax Return Forms for AY 2021-22

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The Central Board of Direct Taxes has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 vide Notification no.21/2021...

CBDT NOTIFIES RULES FOR TAX DEDUCTION ON NON-SALARY PAYMENTS TO NRIS

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The Central Board of Direct Taxes (CBDT) has notified a new set of rules under which assessees will have to submit an...

NO TDS DEDUCTION ON DIVIDEND TO BUSINESS TRUST

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Exemption of deduction of tax at source on payment of Dividend to business trust in whose hand dividend is exempt

STARTUPS GET TAX HOLIDAY FOR ONE MORE YEAR IN BUDGET 2021

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Finance Minister Nirmala Sitharaman has extended by one more year the tax holiday for startups, providing a much-needed post-pandemic boost to the...

TRANSACTIONS INVOLVING ROYALTY, TECH FEE TAXABLE UNDER I-T NOT LIABLE FOR EQUALISATION LEVY: BUDGET

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The government on Monday clarified transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation...

WITH THE NEW TDS RULE, EVERY TIME YOU MAKE A PAYMENT, YOU MUST ASK...

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“Suppose you are making payment to a contractor. And, when you’re getting the work executed, you’re supposed to deduct TDS at 2%...

TAX BENEFIT ( WRITE OFF OF GOODWILL) ON MERGERS AND ACQUISITIONS WITHDRAWN

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The government has withdrawn a tax benefit for mergers and acquisitions (M&A) that would result in marginal increase in the cost of...

CBDT LAUNCHES E-PORTAL FOR FILING TAX EVASION COMPLAINTS BY GENERAL PUBLIC

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CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets Taking another step towards e-governance and encouraging...

PROCESS OF RECOGNITION OF AN ELIGIBLE ENTITY AS STARTUP

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As per notification issued by the department for promotion of industry and internal trade (DPIIT), the process of recognition of an eligible...

Tips to win the Appeal by searching defects in a statement(s) recorded by the...

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The meaning of a statement, anything stated in writing or orally to communicate in any matter and manner. The word statement is...