What Income Tax Form 26AS contains? Form 26AS is the annual statement in which the following details of taxpayers are disclosed – Tax deducted at source, or Tax collected at source, or Advance tax or Self Assessment tax paid by the taxpayer, Refund received, High-value transactions These details are as per the database of Income-tax …
Income Tax Return: Documents required for AY 2020-21 ITR filing Income Tax Return An Individual is required to file the income tax return before 31st July of the following financial year. This AY 2020-21, due to COVID-19, the last date has been extended to 30th November 2020. To make the process of filing ITR easy, …
Section 12AB | Finance Act 2020 | Amendment in Section 12AA/ 80G/ 80GGA The Finance Act 2020 had made significant changes to the taxation and the governance of Charitable trusts and institutions existing as well as new. The changes pertain to: Procedure for obtaining registration / re-registration for claiming exemption by entities registered under section …
Highlights of Finance Act 2020, Charitable trusts and institutions. Read More »
Re-registration u/s 12AB for all Charitable Trusts: – All the charitable trusts, section 8 companies, Societies etc need to register again with the Income Tax Authority within 3 months from 1st October 2020. All such existing charitable trusts/institutions to apply for re-registration of 12A (w.e.f. 1st October 2020). It has been proposed that all existing …
Reregistration of Charitable Instititutions from FY 2020-21 onward Read More »
Ministry of Finance Posted On: 24 JUN 2020 8:48PM by PIB Delhi In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 [the Ordinance] …
Extension of various time limits under Direct Tax & Benami laws Read More »
You must be logged in to post a comment.