West Bengal government has , following the budget presentation , brought in certain changes in existing rates of VAT on different items. For example , in case of balloon , the VAT has been withdrawn , whereas in other case rates have been changed .Following changes have come into effect from 01/04/2012 in the rate of tax applicable on sale of the items noted below…
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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 […]
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The tax deduction u/s 80DDB of the Income Tax Act provides relief to tax payers who are individual or HUF and resident in India for any medical expenditure on the medical treatment of himself or herself or members of HUF who is suffering from specified disease like cancer or aids or other specified ailments.Unlike section...
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.