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Cost Inflation Index (CII) As per provisions of Income Tax Act, for the purpose of Long term capital gains, Indexed cost of acquisition and indexed cost of improvement are deducted from Sale value Read more […]
Due Date of Advance Tax: Section 211 of Income Tax Act lays down due date of payment of Advance Tax .Advance tax on the current income calculated in the manner laid down in section 209 shall Read more […]
Income Tax Department has published calendar related to important due date as per Income Tax law for the year 2021. Calendar is having very good design and titled as “ HONOURING THE HONEST “. Read more […]
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 January, 2021 for taxpayers who are Read more […]
Assets are bifurcated in five classes for the purpose of Depreciation as per Income Act .Below mention Depreciation Rate Chart as per Income Tax Act are applicable for the FY 2018-19(AY 2019-20) as amended Read more […]
Over the years there is definite increase in scope of TDS provisions. TDS provision has really become key instrument for Government to get compliance with requirement of Income Tax Law. Assesses has to Read more […]