While filing an Income tax return (ITR) for AY 2020-21 (FY 2019-20), A new column is appearing in General Information which is "Are you filing return of income under Seventh proviso to section 139(1) but otherwise not required to furnish return of income?". Many of you are...
Synopsis: As a part of Covid-19 relaxation in compliances, Due date to file ITR- Income Tax Return is extended to 31th December 2020 for FY 2019-20 (AY 2020-21) for those taxpayers not liable to Audit under 44AB of the income tax act. Due date for Income Tax...
As you know that ITR-1 for AY 2020-21 (Financial year 2019-20) has arrived on the income tax efiling portal. ITR-1 is used for Salaried persons return and it mainly covers income source from salary. ITR-1 return which is called SAHAJ is also available online.You can file ITR-1...
In this article, we have covered the ways in which usually countries provide for double taxation relief. Actually, we will see what is called unilateral relief because it's given only by one of the two countries. Which one would be in your opinion: the residence or the...
The government wants people to create a retirement fund from their savings, especially people who do not have social security cover provided by the government. In this article, we have discussed NPS Vs PPF in detail. All of us know the concept of retirement....
The following paragraphs will reveal the important and latest aspects related to legal aspects of Business in India. Followings are important Acts related to business in India- The Competition Act, 2002: Objectives and main provisionsThe RTI Act, 2005: Objectives and main provisions Limited Liability PartnershipIntellectual...