SUMIT BIHANI
Can I file my Income Tax Return even If I have missed Income Tax Returns filling due date 31st of July. Yes, If you miss the July 31st deadline, you can still file a belated return by December 31, ........ View More
Sumit Bihani
PAN Re-Activation for NRIs, Deactivated due to Non-Linking PAN with Aadhaar For a variety of financial transactions and tax-related purposes, the government has made it mandatory to link Aadhaar ........ View More
Applicability of Income Tax Return (ITR) for Individuals Below mentioned chart demonstrates the applicability of Income Tax Forms but few things should be kept in mind while filling Income Tax Re ........ View More
Sumit BIhani
Is it required to file Income Tax Return of a deceased family member? Legal provisions: As per sub-section (1) of section 159 of the Income-tax Act, 1961, where a person dies, his legal representat ........ View More
Section 194N of the Income Tax Act, 1961, deals with the deduction of tax at source (TDS) on cash withdrawals exceeding certain thresholds from a banking company, a co-operative society engaged in car ........ View More
TDS (Tax Deducted at Source) implications can arise in the context of property transactions. TDS is applicable when certain specified transactions, such as the purchase of property, occur. Below are ........ View More
Section 43B(h), introduced in the Finance Act,2023 to ensure that micro and small enterprises are paid promptly for their Goods & Services. The clause applies to all purchases from MSMEs registered un ........ View More
TAN is a unique number allotted to entities responsible for deduction or collection of tax at source. If a TAN is no longer needed (e.g., after certain transactions, if multiple TANs have been allotte ........ View More
Chapter VI-A Deduction available to a Salaried Individual Introduction Chapter VI-A of the Income Tax Act 1961 in India provides various deductions that can be claimed by salaried individuals to r ........ View More