Category Archives: Income Tax

Income Tax

TDS on Rent – New Amendment, Terms, Due Dates, Rates, Person who Liable

TDS on Rent

TDS on Rent – Terms, Due Dates, Rates, Person who Liable. Complete Details for TDS on Rent. Find Full Details for TDS on Rent. As per section 194 I of Income tax act 1961 ,TDS on rent has to be deducted where the aggregate amount paid or credited or likely to be paid or credited to […]

Income Tax Benefits for Senior citizens, Benefits for Senior Citizens

Income Tax Benefits for Senior citizens

Income Tax Benefits for Senior citizens, Benefits for Senior Citizens under Income Tax Act. Detail of benefits for Senior Citizens under Income Tax Act for the financial year 2018-19. In budget 2018 the finance minister announced some special tax benefits for Senior Citizens. Income Tax Benefits for Senior citizens Definition of Senior Citizen- A person becomes […]

Income Tax Due Dates October 2018, Direct Tax Calendar Oct 2018

Income Tax Due Dates

Income Tax Due Dates October 2018, Direct Tax Calendar Oct 2018. check various income Tax Due Dates for the month of October 2018. due date for 44ab ay 2018-19. Due date for Tax Audit us 44ab. Extended due date of filing of returns of income and audit report under Section 44AB for the assessment year 2018-19 which […]

Tax Audit Due Date Extended to 31.10.2018 for AY 2018-19

Tax Audit Due Date Extended

Tax Audit Due Date Extended to 31.10.2018 for AY 2018-19. CBDT extends due date for filing of Income Tax Returns & audit reports from 15th October 2018 to 31st Oct 2018 for all assessees liable to file ITRs for AY 2018-19 by 15.10.2018, after considering representations from stakeholders. Liability to pay interest u/s234A of ITAct will remain. […]

History of Income Tax in India, Genesis of Direct Tax & IT’s Reforms

History of Income Tax in India

History of Income Tax in India, Genesis of Direct Tax & IT’s Reforms in India. Law is Dynamic in Nature: This means that law evolves over time in order to meet the specific needs of the society in which it is operative. During the Rajaswa Gyan Sangam held in September 2017, Prime Minister Narendra Modi had […]

Changes in ITR and Tax Audit Report Forms (Form 3CD) for AY 2018-19

Changes in ITR and Tax Audit Report Forms

Changes in ITR and Tax Audit Report Forms (Form 3CD) for AY 2018-19: It is the tax season of the year!! The tax filings for the year ended 31st March 2018 are due and hence, the taxpayers and the tax professionals must be aware of the compliance and disclosure requirements in the tax audit report […]

Overview of Tax Audit : Section 44AD, 44AB, 44ADA, Form No 3CD

Overview of Tax Audit

Overview of Tax Audit: In recent years, significant changes have been made in Form No. 3CD. Insertion of new clauses in recent years such as clause 17 related to transfer of land, building or both, changes in clause 21(b) in respect of amounts inadmissible under section 40(a), clause 33 which requires section-wise details of deductions admissible […]

Auditors Responsibilities while doing Tax Audit – A Detailed Analysis

Auditors Responsibilities while doing Tax Audit

Auditors Responsibilities while doing Tax Audit: The tax auditor should obtain from the assessee, the statement of particulars in Form No. 3CD duly authenticated by him. It would be advisable for the assessee to take into consideration the following general principles while preparing the statement of particulars: Auditors Responsibilities while doing Tax Audit (a) He can […]

FAQ on e-Filing of Tax Audit Reports for AY 2018-19 FY 2017-18

FAQ on e-Filing of Tax Audit Reports

FAQ on e-Filing of Tax Audit Reports for AY 2018-19 FY 2017-18: This article discusses the e-Filing process in general and answers some of the Frequently Asked Questions (FAQs). Read on to know more… 1) While creating login as Chartered Accountant, CA is getting error for mismatch/difference in Date of Birth / Name. In this […]

Procedure of e-Filing of Tax Audit Reports for AY 2018-19 FY 2017-18

Procedure of e-Filing of Tax Audit Reports

Procedure of e-Filing of Tax Audit Reports for AY 2018-19 FY 2017-18: Filing of Income-tax Returns and Tax Audit Reports electronically has fairly stabilized now. Regulations and tax compliances are changing every day, making e-Filing more challenging. These changes have increased the reporting requirements and have made it imperative for tax auditors to be more […]