income tax

What is VC? VC stands for ‘Video Conferencing’. Using the VC facility, an assessee is enabled to express or submit one’s response orally before an Income Tax Authority who has initiated the proceeding and expect the response...

The new section – Section 115BAA has been inserted in the Income Tax Act,1961 to give the benefit of a reduced corporate tax rate for domestic companies. Section 115BAA states that domestic companies have the...

Income tax payment for individuals and corporate entities is a mandatory requirement as per the Income Tax Act, 1961 if their annual income is above the minimum exemption limit. However, taxpayers can also avail tax...

The CBDT (Central Board of Direct Tax) has issued Notification No. 19/2021 dated 26th March, 2021 prescribing the procedure for Registration including re-approval / revalidation of existing Tax Exemption Registrations of Trust or Institutions. All the existing Trusts...

The FM has announced New Income Tax Slab for AY 2020-21 giving taxpayers an option to pay taxes as per the new tax slabs. Income Tax Slab for A.Y 2020-21 and 2021-22 for Individuals/HUF New...

Summary of the judgment of Hon'ble Delhi High Court on Scope of Rule 27 of the Income-tax (Appellate Tribunal) Rules, 1963.

Extensions in Due Dates & Reduction in the Interest Rates was announced by the Finance Minister on 24th March 2020 through Press Release to relax some of the key compliance timelines & various relief measures Statutory and Regulatory compliance matters across Sectors for the taxpayers so that compliances can be met and there are no penal consequences for delays which are beyond the control of the everyone.

Benjamin Franklin once said, “In this world nothing is certain but death and taxes”. So Why is that, When is that, What is that, Who is that and How. Okay, here’s the answer to this- Advance Tax....