The Parliament Passed the Payment of Gratuity (Amendment) Bill which will increase the ceiling...

Further, this will allow the government to increase the gratuity (Note 1) ceiling from time to time without amending the law Full Text of Amendment bill is as under : The provisions contained...

Relaxation in MAT

Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency...

E-filing portal of Income Tax department now more user-friendly for Login and no password...

(1) E-filing portal of Income Tax department now more user-friendly for Login and no password required for opening documents… Recently changes made at www.incometaxindiaefiling.gov.in by CBDT now for login by Assessee no...

Income Tax Informants Reward Scheme, 2018

Income Tax Department issues Revised Income Tax Informants Reward Scheme, 2018 A new reward scheme titled “Benami Transactions Informants Reward Scheme, 2018”, has been issued by the Income Tax Department with the...

The facility to file Income Tax Return for ITR-1 is now available on the...

ITR-1 is required to be filed by taxpayer for individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having...

Fees and Penalties in New era of Tax Regime

For the 1st time Late Fees introduced in indirect tax system at wide rage in Goods and Services Tax. Initially the Fees was very high then it would be decrease by...

Stakeholder engagement by the Task Force drafting the new Direct Tax Law

Task Force for drafting a New Direct Tax Legislation - Questionnaire for inviting suggestions and feedback on the Income-tax Act, 1961 from the stakeholders and general public. On 23rd March 2017 Govt....

Due Dates in June 2018

Compliance Calendar 01-06-2018 : E Way Bill for Intra state Movement of Goods Mizoram, Odisha, Punjab, Chhattisgarh, Goa and Jammu & Kashmir. Besides, Tamil Nadu & West Bengal will roll out on...

Procedure of Application u/s 80G by Trust under Income Tax Act

Here we are laid down procedure for application for section 80G by trust and Conditions to be satisfied as per section 80G and rule made thereto.  As per Rule 11AA of...

ITR-3 for AY 2018-19 is available for e-filing & Key changes in ITR-3 for...

Income Tax Return (ITR-3) now available for filing on income tax portal as the due of filing Income Tax Return for the individual who are not liable for tax audit is...

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