Compliance Calendar for the month of October 2021
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Tag: Income Tax
Compliance Calendar: September 2020
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✅ INCOME TAX FY 2018-19 Extended due date of ITR for AY 2019-20 for all assessee : 30th September 2020 The due date for filing of return of income U/s 139 for the AY 2020-21 has been extended to 30/11/2020. FY 2020-21 ▪️07th September 2020- TDS deducted /TCS collected for the month of August, 2020 […]
Order under Section 154 of Income Tax Act, 1961
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Steps: What to do when you receive order under section 154 of Income Tax Act, 1961 Notice u/s 154 under the Income Tax Act is nothing but the rectification order issued by the tax department either in response to a rectification request filed by you or Suo-moto by the tax department when they notice any […]
Section 115BAC: Relief for Salaried employees opting the above section
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During the Budget 2020 speech, the Finance Minister Nirmala Sitharaman announced the insertion of a new section called 115BAC into the Income Tax Act in the Union Budget 2020. Section 115 BAC, effective from FY 2020-21, deals with the new and optional income tax regime for individuals and Hindu Undivided Families (HUFs). Let us understand […]
Section 269SU not applicable to specified person having only B2B transactions
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F.No.370142/3512019-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes**** Dated: 20th May, 2020 Subject: Clarifications in respect of prescribed electronic modes under section 269SU of the income-tax Act, 1961 — reg. In furtherance to the declared policy objective of the Government to encourage digital transactions and move towards a less-cash economy, a new provision […]