Taxability of ULIP
The amount received back from ULIP on maturity or otherwise is taxable in some cases.
TCS on sale of goods Section 206C(1H)
TCS on sale of goods Section 206C(1H) is applicable to seller having turnover more than 10 Crore on sale to single buyer exceeding 50 lacs.
75 साल के लोगों के लिए आयकर रिटर्न
75 साल के लोगों के लिए आयकर रिटर्न ना भरने से संबंधित नए प्रावधान को समझाया गया है
Cost Inflation Index 2022-23
Cost Inflation Index is utilized for calculation of long term capital gain in Income Tax. Cost Inflation Index for 2021-22 is 317.
माल की खरीद पर टीडीएस : धारा 194Q
पिछले साल 10 करोड़ रुपये से अधिक टर्नओवर वाले व्यापारियों द्वारा माल की खरीद पर टीडीएस के नए प्रावधान 1 जुलाई, 2021 से लागू हैं
Compliance Check for Sec. 206AB and 206CCA
CBDT has issued a functionality "Compliance Check for Sections 206AB and 206CCA" to find non-filers of ITR having TDS/TCS Rs. 50000 or more
How to Link AADHAAR with PAN
If AADHAAR PAN link is not done upto 30th June, 2021, the PAN may become inoperative and one has to face other consequences also.
No ITR for 75 years old Persons
Senior citizens of 75 years or more is not required to file ITR if some conditions of Section 194P are fulfilled.
TDS on purchase of Goods : Section 194Q
The new provision relating to TDS on purchase of goods is applicable from 1st July, 2021 is discussed here
Clubbing of Income
Under some circumstances income earned by one person is clubbed in income of another person under Income Tax Act, the same are explained here.