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Tax Deduction at Source (TDS) on purchase of goods
Background: As per Finance Bill 2021, it is proposed by government to deduct TDS @ 0.10% on purchase of Goods with effect from 01.07.2021 as per section 194Q of... Read more.
Copy of Finance Bill 2021 (Memorandum)
Dear Readers , Please find below the Copy of Finance Bill 2021 (Memorandum) for your reference. Click to Download Finance Bill 2021 ( Memorandum ) FinanceFriend.in... Read more.
How to Claim Deduction in respect of Health Insurance Premium
Background - Deduction in respect of health insurance premium: Post covid scenario, People are buying health insurance policy. You may have also purchased health... Read more.
Government extended due date of Audit and ITR for AY 2020-21 ( FY 2019-20 )
Government has extended due date of Audit and ITR . Please note summary as below. You can refer below press release in this regard Summary Individual ITRs: 10th... Read more.
Understanding ITR Forms for AY 2020-21 (AY 2019-20)
Sometimes it is difficult to identify which ITR to be filed for AY 2020-21. Below list will provide you clear details which ITR is applicable in your case. You can... Read more.
Due date for filing ITR for AY 2020-21
Due date for filing Income Tax return for AY 2020-21 ( FY 2019-20) is 31st December, 2020 for taxpayers who are not required to get their accounts audited and 31st... Read more.
New TCS as per Section 206C(1H)
Background - TCS as per Section 206C(1H) : With effect from 01.10.2020 , Government has introduced Tax Collection at Source (TCS as per Section 206C(1H)) @ 0.10%... Read more.
Extension of due date of furnishing of Income Tax Returns and Audit Reports for AY 2020-21
Today Ministry of Finance has published below press release for extension of due date of ITR and audit report for FY 2019-20 ( AY 2020-21) Ministry of Finance Extension... Read more.
Highlights of Announcements by FM on Tax Compliance and Regulatory Matters on 24th March 2020
Income Tax1. Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. 2. Aadhaar-PAN linking date to be extended from 31st... Read more.
Finance Bill 2020 and Budget Speech 2020
Indian Finance Minister, Smt. Nirmala Sitharaman, has presented Union Budget 2020-21 today in the Parliament. Click below link to download Memorandum Explaining... Read more.