by Dinesh Batra | Jun 3, 2020 | Legal and Tax Compliance
CBDT has notified income tax forms for the assessment year 2020-21 (i.e. Financial year 2019-20) vide Notification No. 31/2020-Income Tax, dated 29th May, 2020. The new ITR forms require taxpayers to furnish details of specified high-spend transactions, such as...
by Dinesh Batra | Jun 1, 2020 | Legal and Tax Compliance
Form 26AS will now be a complete profile of the taxpayer w.e.f. 01.06.2020 CBDT vide Notification dated May 28, 2020 amended Form 26AS in Sec 285BB w.e.f. 01.06.2020. Key takeaways are: New form 26AS will provide information in respect of “Specified financial...
by Dinesh Batra | Apr 6, 2020 | Legal and Tax Compliance
Income Tax Returns Due Dates extended up to 30th June 2020 The news of extension of last date of filing the Income Tax Return for the F.Y. 2018-19 comes as a relief to many taxpayers across the country. This decision has been taken on account of the increasing spread...
by Dinesh Batra | Apr 6, 2020 | Legal and Tax Compliance
The government, Ministry of Finance has clarified that there is no change in Financial Year 2019-20 and it ends on 31 March 2020 In Social Media there are fake circulars or notifications being shared. Government clarified all such documents are fake. The document in...
by Dinesh Batra | Jul 3, 2019 | Legal and Tax Compliance
Tax season generally coincides with monsoon, unlike the latter, the former is not a season that taxpayer look forward to. Taxation by itself is complex. For the layman, it gets even more so when they have to file their ITR. The ITR forms are complicated as there are...
by Dinesh Batra | Mar 16, 2019 | Legal and Tax Compliance
The Interim Budget presented by Piyush Goyal is the last Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May 2019. The key highlights of Interim Budget 2019 are as follows:- The Simplification of Direct Tax system...
