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Category: Income Tax


Tax Changes for Filling of Income tax Return For A.Y 2019-20, FY 2018-19 Recently, the Indian government has notified new tax return forms for FY2018-19 (assessment year 2019-20) applicable for individuals, corporates and other category of taxpayers. The new forms Read more…


Section 194N: TDS on Cash Withdrawals The Union Budget of 2019 proposed various amendments to the existing sections of the Income Tax Act. Amongst such changes, the Budget also bought about the inclusion of new sections such as Section 194M and Section 194N. These Read more…


How to Download e-PAN Card for New and Old Users Both new and existing PAN card holders can easily download their e-PAN from either NSDL or UTITSL’s website All new PAN card applicants are sent emails containing their e-PAN To Read more…


TDS Rate Chart along with the threshold limit for the financial Year 2019-20 / Assessment Year 2020-21 after considering Amendment in TDS law proposed by Union Budget 2019.    Relevant Section Nature of Payment Threshold Limit TDS Rates 192 Salary As Read more…


Top 100 Key Highlights of Budget 2019 by Nirmala Sitharaman No income tax for less than 5 lakh per annum income 3% Increase in surcharge for individuals with incomes between 2 to 5 cr. 7% increase in surcharge for incomes Read more…


Sandesara loan fraud bigger than PNB scam : Enforcement Directorate The Enforcement Directorate has claimed that the fraud committed by Sterling Biotech’s Sandesara brothers is much bigger than Nirav Modi’s PNB scam. ANI has quoted ED officials stating that the Sterling Biotech Read more…


Tax 1. Within 2 years, Tax assessment will be done electronically 2. IT returns processing in just 24 hours 3. Minimum 14% revenue of GST to states by Central Govt. 4. Custom duty has abolished from 36 Capital Goods 5. Read more…


New Delhi: To prevent tax evasion, the Income Tax department has changed PAN card rules with effect from 5 December making it mandatory for all entities doing business worth over Rs 2.5 lakh in a financial year to have a Permanent Read more…


1. Deductor & Deductee: Any person responsible for paying any sum to a resident transferor by way of consideration for transfer of an immovable property (i.e. building or part of building or any land other than agricultural land) is liable Read more…


A famous chaatwala shop in Patiala has declared an undisclosed income of Rs 1.20 crore in Income Tax Department’s raid. The Income Tax Department had raided the chaatwala shop on Wednesday. On Thursday, the chaatwala shop owners declared this unaccounted Read more…


The Central Board of Direct Taxes (CBDT) have released schema for Revised Form 3CD schema (Tax Audit Report) version 1.14 on 7th September 2018. A total of 13 changes have been effected in the revised schema version. This is Sixth Read more…

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