The electronic payment option for payment of service tax was available only to those who had paid a service tax of Rs 50 lakh or more including utilisation of Cenvat credit. Now , the Central Board of Excise and Customes has made electronic payment of service tax compulsory from April 1, 2010, vide notification No.1/2010,
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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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Every year tax forms (popularly known as ITR ) are issued afresh valid for a particular assessment year . CBDT has notified income tax forms for asst. year 2014-15 also . A perusal of the ITRs , it is observed that a significant number of changes or additional fields have been inserted in the notified...
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.