Income Tax

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Income Tax

Analysis of Incriminating Material (IM) and Search Asse...

Analysis of Incriminating Material (IM) and Search Assessment

Assessment of Income as per section 143(3) read with section 153A, must have nexus to the Incriminating Material (IM), if any, found during the course of s...

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Income Tax

Insertion of Section 194P in the Income Tax Act

Insertion of Section 194P in the Income Tax Act

The Finance Act 2021 inserted a new section to provide relief to the senior citizens who is 75 years of age or more from the burden of filing the return......

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Income Tax

Filing Income Tax Return :Points to note for Individual...

Filing Income Tax Return? Points to note for Individual Taxpayers

Those individuals who are not subject to the tax audit provisions under Income Tax Act, the ITR filing deadline for Financial Year 2020-21 (Assessment Year...

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Income Tax

Why should you file an ITR even if you don’t have a T...

Why should you file an ITR even if you don’t have a Taxable Income?

If your income falls under the ambit of taxable income, then you are mandatorily required to file an ITR. The tax returns must be filed by individuals in I...

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Income Tax

Technical Glitches Mar the New Income Tax Portal

Technical Glitches Mar the New Income Tax Portal

Nearly 1.5 months after its launch, the new income tax portal has been marred by technical glitches. This has caused obstruction to users and also resulted...

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Income Tax

Checklist of Income Tax Tasks to be finished before 31...

Checklist of Income Tax Tasks to be finished before 31 July 2021

Due to the Covid-19 pandemic, the government has extended different deadlines relating to various tax compliances. The government has sought to ease the co...

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Income Tax

Tax reliefs under IT Act: Extension of various deadline...

Tax reliefs under IT Act: Extension of various deadlines for tax compliances

The Indian government announced several tax reliefs under the income tax act recently. It granted an extension in timelines of compliances under the IT Act...

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Income Tax

Why should Form 26AS be checked before Filing Income Ta...

Why should Form 26AS be checked before Filing Income Tax Return?

In case you are filing Income Tax Return (ITR) as an individual or as a company, you should also be aware of Form 26AS, which captures all the tax paid......

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