NEW TDS RATES FROM 14.05.2020 CBDT reduced the rate of TDS and TCS from 14.05.2020 to 31.03.2021. Full list of new rates of TDS are enclosed herewith. TDS on the amount paid or credited during the period from 14.05.2020 to 31.03.2021 shall be deducted at the reduced rates as mentioned. Read Also : GST […]
GST AND INCOME TAX REFUND In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it has been decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers. It has also been decided […]
Deduction in Respect of Certain Payments Deduction in Income Tax in respect of certain payments made are allowed from 80C to 80GGC.Here we will discuss about 80C deduction. Sectors in which you can invest and get Tax benefit. First of all we will see that which assessee can get deduction The deduction is allowed only […]
Important Points for Taxpayer to do before 31st March 2020 – Income Tax As we are all aware that the Financial year 19-20 is coming to end. 31st March 2020 is the last date for the Financial Year. So all the taxpayers has to complete their financial obligation on or before 31.03.2020 . Some of […]
New Notification and Circular issued by Income Tax for Prescribing Modes of electronic payment from 01.01.2020. New circular issued to give some time to install and operationalise the new system. The penalty U/s 271DB will be applicable from 01.02.2020 Read Also : GST NEW RETURN Read Also : CASH TRANSACTION LIMIT