CBDT has granted further relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported by taxpayers in filing of the forms online on incometax.gov.in. The date for submission of forms in…
CBDT vide Notification No. 76/2021-Income Tax | Dated: 2nd July, 2021 amends rule 8AA which relates to Method of determination of period of holding of capital assets in certain cases and added rules related to amount which is chargeable…
1. What is Form 15G and Form 15H? Form 15G and Form 15H are forms you can submit to prevent TDS deduction on your income, if you meet the conditions mentioned below. For this form,…
Higher rate of TDS abd TCS Section - 206AB and 206CCA Finance Act 2021 introduced new Sections 206AB and 206CCA levying a higher TDS / TCS rate applicable from 01st July 2021. 1. Transaction on…
Relief to Income Tax Payer are as follows: 1 Time to invest in a residential house for tax deduction extension for more than 3 months. 2. PAN Aadhar Linking Extension of 3 months 3. Vivad…
Extract of Rule 115 of Income Tax Rules, 1962 Rate of exchange for conversion into rupees of income expressed in foreign currency. Section 115. (1) The rate of exchange for the calculation of the value…
NOTIFIED COST INFLATION INDEX UNDER SECTION 48, EXPLANATION (V) As per Notification No. So 3266(E) [No. 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019, following table should be used for the Cost Inflation Index :- Sl. No.Financial YearCost Inflation Index12001-0210022002-0310532003-0410942004-0511352005-0611762006-0712272007-0812982008-0913792009-10148102010-11167112011-12184122012-13200132013-14220142014-15240152015-16254162016-17264172017-18272182018-19280192019-20289202020-21301212021-22317…
Section 54F of the Income Tax Act, 1961 is a section that allows tax exemption on the long term capital gains earned from selling a capital asset, other than a house property. So, if you…