The title of this blog post could easily be “How to differentiate between business and profession?”. However, a different title is applied to suit Mr Anoop Bhatia , a reader of this blog who asks “Sec 44AD has been substituted w.e.f A.Y. 2011-12 to include within its scope all such businesses (except) the business of…
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CBDT has clarified that the date of filing tax return to 17th October 2016 vide its order u/s 119 of the Income-tax Act, 1961 (‘Act’) dated 9th September, 2016 is also for obtaining the tax audit report under section 44AB . Read the explanatory circular below F. No. 225/195/2016-ITA II Government of India Ministry of […]
CBDT has extended the due date for filing tax return on ground of clash of dates with last date for declaration under the Income Declaration Scheme 2016 . It its circular dt 9th September 2016 , reasons cited by the CBDT to remove the inconvenience – “In order to remove inconvenience and to facilitate ease of […]
Video on Tax Issues !
Form 15G or 15H are declaration for individual residents and HUF that they have neither taxable income nor do they have interest or dividend or withdrawal u/s 80CCA more than the exemption limit. If these forms are submitted to the payer of interest , like banks, there will not be any deduction of tax at...
About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.