What are Form 15CA and 15CB? How to fill and who are applicable.

Any payment made to a non-resident or a foreign company is subject to various rules and regulations. As per provisions of Section 195 of Income-tax Act,1961 any person responsible for paying money to a non-resident...

Relaxation In Applicability of Accounting Standards Commencing From April 1, 2020.

Announcement by The Institute of Chartered Accountants of India Criteria for classification of Non-company entities for applicability of Accounting Standards. The Council, at its 400th meeting, held in March, 2021, considered the matter...

A guide to depreciation rates for AY 2021-22

Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate as per income tax act will be allowed as deduction...

Draft Model Tenancy Act – 2020: A major step to streamline the property renting process in India.

After releasing the draft in 2019, the Union Cabinet on 2nd June 2021 approved the Model Tenancy Act (MTA) to streamline the process of renting a property in India and aid the rent economy...

Attention Taxpayers: New I-T portal to be activated from June 7, existing portal will be unavailable from June 1-6

The Income Tax Department will launch a new income tax filing portal on June 7. What new income tax makeover aims at? The new e-filing portal (www.incometax.gov.in) is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers...

Do You Really Need Professional’s Help While Filing Your ITR?

When March approaches every year, we tend to focus on few compliances that we never thought of during the whole year and filing your ITR and the confusion of discussing it with professionals or...

New Penalty provision under section 270A |A blessing in disguise?

Penalty on Concealment of particulars of income or furnishing inaccurate particulars of income has always been a matter of litigation between the department and the assessee. The scope of such provisions was always a subject...

Recent posts

Want to publish your own blogs?
Write an Article