Notices are being served via the e-filing portal. ➡️Issued where ITRs flagged under CASS or manual scrutiny. ➡️Response timeline: Generally 15/ 30 days from date of issue. ➡️Available under e-Proceedings → Assessment Tab. ➡️Delays may…
CBDT has issued Circular No. 07/2025 dated 25.06.2025, granting relaxation in the statutory time limit prescribed for processing of valid returns filed pursuant to condonation of delay orders under Section 119(2)(b). Relaxation is apparently due…
It was introduced through the Companies (Amendment) Ordinance, 2019, and applies to companies incorporated on or after 2nd November 2018. It mandates that such companies cannot commence business or borrow funds unless they fulfill certain…
Section 197 of the Income Tax Act, 1961 allows a taxpayer to apply for lower or nil TDS (Tax Deducted at Source) deduction on certain incomes, ensuring that excess TDS is not deducted, which can…
Capital Gain is the profit you earn when you sell an asset like land, house, shares, or gold at a higher price than you bought it. 🔺 If you sell it at a loss, it…
"Income from House Property" is one of the five heads of income under the Income Tax Act, 1961. It covers rental income earned from buildings or land appurtenant thereto, whether residential or commercial. Even if…
House Rent Allowance (HRA) is a part of the salary provided by employers to employees to meet rental housing expenses. It is an important component of salary and can offer tax benefits under Section 10(13A)…