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Important F & Q Related to carry forward and set off of house property and speculative business losses ?

What are the provisions framed under the Income-tax Act in relation to carry forward and set off of house property loss? ​​​​​If loss under the head “Income from house property” cannot be fully adjusted in the year in which such loss is incurred. then unadjusted loss can be carried forward to next year. ​​​The set-off […]

Income Tax ITR Latest Tax News & Updates Tax News

Extended Due Date for Income Tax Filing – and Tax Audit FY 2020-21

Extended Due Date for Income Tax Filing – and Tax Audit FY 2020-21 Category of Taxpayer Extended Due Date for Tax Filing – FY 2020-21 Individual / HUF/ AOP/ BOI (books of accounts not required to be audited) Due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st  July […]

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Article on Tax Audit – with Tax Audit Applicability Charts

What is tax audit? ​​​​​ The dictionary meaning of the term “audit” is check, review, inspection, etc. There are various types of audits prescribed under different laws (Income Tax, GST, Company) like company law requires a company audit, cost accounting law requires a cost audit, GST Law requires a GST Audit etc. The Income tax […]

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Case Law- Provisions of section 271AAB of Income Tax Act || Shiv Bhagwan Gupta S/o Lt. Badri Prasad G vs Asst Commissioner of Income Tax

Provisions of section 271AAB of Income IN THE INCOME TAX APPELLATE TRIBUNALPATNA BENCH “SMC” AT KOLKATA Shiv Bhagwan Gupta S/o Lt. Badri Prasad G vs Asst. Commissioner of Income-tax, Central Circle-1, Patna.- ITA No.194/Pat/2019.  Dated:- 20, March 2021 Short Summary  Provisions of section 271AAB of Income Tax Act 1961, it is evident that the Section […]

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Extension Due date of Income Tax compliances

Extension of time limits of -Income Tax Return, Audit Report, TDS Return and other Returns to provide relief to taxpayers in view of the severe pandemic Covid-19 Extended Income tax return due date for Covid-19:- CBDT in exercise of its power under section 119 of the Income-tax Act-1961CBDT in exercise of its power under section […]

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Extension of time limits of ITR/Tax Audit/GSTR-9

Extension of time limits of ITR/Tax Audit/GSTR-9 ITR whose Accounts are required to be Audited-15.01.2021 The due date for furnishing of Income Tax Returns for the Assessment Year 2020·21 for the taxpayers (including their partners) who are required to get their accounts audited and companies [for whom the due date, as per the provisions of […]

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Income Tax Return Deadline For F.Y 2019-20 Extended to 31st, January,2021 ||Extended due date for tax Audit

Income Tax Return Deadline For F.Y 2019-20 Extended Extended due date for tax Audit:- In view of constraints being faced by taxpayers due to COVID-19,CBDT (Central Board of Direct Taxation) further extends due dates for various Income tax  compliances for Financial year 2019-20: The due date of furnishing Income Tax Returns(ITRs)for taxpayers whose accounts require […]

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CBDT Extends due date for ITRs filing for AY 2019-20

CBDT Extended due date for income tax return ay 2019-20 The CBDT (Central Board of Direct Taxes ) has further extended the due date for filing personal income tax returns for A Y 2019-20 (FY 2018-19) In this context, on further consideration of genuine difficulties being faced by the taxpayers due to the outbreak of […]

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What is the Extended Due Date for Income Tax Filing? FY 2019-20, AY 2020-21

What is  the Due Date for Tax Filing? FY 2019-20, AY 2020-21 And A.Y 2019-20 For the FY 2019-20, the due date for all taxpayers stands extended (COVID-19 relief measures) to 30th November 2020. Here’s the table of the Extended due dates for Financial Year 2019-20 for different categories of taxpayers: Category of  Income Tax […]

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GST and Income Tax Compliance Calendar – September 2020

GST and Income Tax Compliance Calendar – September 2020 Due Date Return/ Compliance Remarks 11th Sep-20 GSTR-1 (Aug 20) GST Monthly Return of Outward Supplies 12th Sep-20 GSTR-2B (Aug 20) Auto Drafted ITC Statement available for download 20th Sep-20 GSTR-3B (Aug 20)   GST Return Taxpayers with Turnover More Than 5 Crore 1st October, 2020 GSTR-3B […]