Saturday, October 16, 2021

Income Tax

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Capital Gain on units of Mutual Fund held under Fixed Maturity Plans

Central Board of Direct Taxes has extended period of holding of the units of Mutual Funds held under Fixed Maturity Plans (FMPs)vide circular No...

Income Tax Refund & It’s Provisions As Per Income Tax Act

Income Tax Refund means when you have paid more taxes (either by way of TDS or TCS or Advance Tax or Self-Assessment Tax)...
Faceless assessment

CBDT eases rules for authentication of e-records submission

The Central Board of Direct Taxes (CBDT) on Tuesday said assessees going for faceless assessment will have ease in submitting authenticated documents electronically. “The amended...
Income Tax Filing

What is the Due Date for Income Tax Filing? For AY 2021-22

The due date for filing income tax returns is the date by which the returns can be filed without any late fee or penalty....
SARFAESI

Remedies Available to Borrowers under SARFAESI Act 2002

The provisions of SARFAESI Act apply to outstanding loans (above Rs. 1 lakh), which are classified as Non-Performing Assets(NPA). NPA loan accounts amounting to...
Legal Notice to Tenant

How to send Legal Notice to Tenant to Vacate Premises

Owning extra houses and earning rental income from those houses is considered a good source of passive income. However, if proper steps are not...
Probate

What is Probate & Is A Probate Mandatory To Transfer Property?

What is Probate and How long does it take? The word probate is derived from the Latin phrase ‘probare’, which means to have proven. Probate...
Clubbing of Income

You May End-up Paying Tax on Spouse Income

Clubbing of income means Income of other person included in assessee's total income, for example: Income of husband which is shown to be the...
Central Board of Direct Taxes

CBDT issues guidelines under section 194Q

The income tax department issued a circular dated 30th June 2021 laying down the guidelines for TDS deduction under section 194Q. These guidelines are...

Rent paid to Parents is eligible for HRA Deduction under Income Tax Act

HRA or house rent allowance is the most common allowance received by the salaried. Those who live on rent can maximize on saving tax...
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