Income Tax Articles

Income tax e-assessment
September 27, 2019
New income tax e-assessment system to kick off from next month; person with no PAN or e-filing account not eligible

A directive from the Central Board of Direct Taxes (CBDT) lays out the exceptions for the new system

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nirmala sitharaman
September 20, 2019
Govt announces drastic cut in corporate taxes in a game-changing move as market responds with over 2,000-point rise

Corporate tax rates slashed to 22% (effective 25.2% with surcharges) for all domestic companies. New manufacturing companies incorporating after Oct 01, 2019, will have lower tax rate of 15% (17% with surcharges)

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Money things
September 2, 2019
10 money things changing from September that you can’t ignore

The 10 things include TDS on club membership fee/car parking fee while buying home, 10-times traffic fines, online IRCTC train booking costlier, and TDS on over Rs 1 cr cash withdrawal a year

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nirmala sitharaman
August 23, 2019
It’s ‘good Friday’ as govt withdraws surcharge on capital gains tax for FPIs, domestic investors; announces sops for auto, startups

The big move has been to withdraw enhanced surcharge on equity capital gains for FPIs and domestic investors; promises more measures in coming weeks

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Income tax department appeals
August 10, 2019
Monetary limit for appeal by IT dept in income tax litigation hiked in ITAT, high courts and Supreme Court

There has been a substantial increase in limits to trigger appeal by IT dept. It’s Rs 50 lakh at ITAT level, Rs 1 cr at high courts and Rs 2 crore Supreme Court

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Income Tax returns filing date
July 23, 2019
Now, you have time till August 31 to file FY19 income tax returns

Government has extended by 1 month the due date for filing IT returns by individuals and certain non-corporate assessees

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Union Budget 2019 Nirmala sitharaman
July 5, 2019
Super-rich gets a jolt as Modi 2.0 Budget proposes a steep surcharge hike, taking peak income tax to 43%

The increase in surcharge on income tax for HNIs would affect ~60,000 assessees and raise additional Rs 15,000 crore to Rs 18,000 crore approximately

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income tax everification
June 24, 2019
6 changes in Income Tax Return forms for AY 2019-20 that you must know

Here we take a look at changes you need to know in the two most popular ITR forms: ITR-1 and ITR-2

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income tax return april 2019
April 16, 2019
6 new changes for income tax filers this year

The Income Tax department has notified new IT return forms, which require us to give more information. Here are the key information to be provided in the new forms

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