The last date for filing the IT return for the financial year 2019-2020 has been extended to November 30. Though, while filing the return, utmost... Read More
Diksha Garg
Many people face many problems regarding e-filing, refund, and rectification issues, and wish to complain regarding the same to the IT department. But, thinking that... Read More
There are some consequential amendments made in the IT provisions by the CBDT about the expenditure and payments. The changes will be relevant from October... Read More
What are Major Changes with Faceless Assessment? Will it Actually Help Taxpayers or Add Any Woes?
2 min read
Every administrative department of the government is on the road to digitalization. Old practices are now being done online to achieve efficiency, and optimally utilize... Read More
With the increase in instances of transactions in higher denominations, the Income Tax Department is working in solidarity with other government departments to trace those... Read More
The taxpayers have always expressed their concern over the power vested with the assessing officers, which in many cases has led to corruption and harassment.... Read More
It is necessary to understand the basic terms related to income tax: What is Capital Gain? The Excess income from the sale or exchange of... Read More
According to Section 45(2) of the IT Act, when an assessee converts a capital asset into stock-in-trade of his business, it is considered as a... Read More
The contribution of salaried employees towards the overall tax collection is quite significant owing to their large numbers. Allowances and deductions allow them to reduce... Read More
An annuity is one of the stipulated tax-saving tools that allow one to reduce his taxable income, and further the tax liability. However, lower returns,... Read More
