Exemption of Capital Gain [Section 54 to 54F] S.No Particulars Section 54 Section 54B Section 54D Section 54EC Section 54F 1. Eligible Assessee Individual/ HUF Individual/ HUF Any assessee Any assessee Individual/ HUF 2. Asset transferred Residential House Urban agricultural Land L&B forming part of as industrial undertaking Land or Building Or Both (LTCA) Any …
Summarization of ITR Forms Under Income Tax Act ITR FORMS ELIGIBLE ASSESSEE INCOME FROM SALARY EXEMPT INCOME CAPITAL GAIN INCOME FROM HOUSE PROPERTY BUSINESS INCOME INCOME FROM OTHER SOURCES ITR-1 RESIDENT INDIVIDUAL AND HUF YES YES, PROVIDED AGRICULTURE INCOME IS UP TO RS. 5000. NO YES, FROM ONLY ONE HOUSE PROPERTY. NO NO ITR-2 HUF …
How to tax on Loss or Profit from Intraday share trading Income This has become a lot more trading on the stock market, and investors aren’t just restricted to those who engage in active share trading. Income tax is applicable to all income in India. Similar to this, every gain or loss from sharing shares …
Overview of section 194P on relaxation from filing of ITRs. Section 139 of the Income Tax Act provides that every person being an individual shall furnish a return of his income if his gross total income during the previous year exceeded the basic exemption limit. Section 194P of Income Tax Act was implemented in order …
Certified Tax Return cannot be True copy The CA on a certificate or issue of any document attestation is of immense value since it usually signifies that the Chartered Accountants, in his expert opinion, which is ensured that there is no misrepresentation by the origination filling or issuing such a kind of certificate Chartered Accountants …
Is you don’t willing to Pay Income Tax ? The Financial Year 2022–2023 hopefully went well. The Next financial year about to start. However, let us know if it was successful in terms of your income tax planning. NO? The majority of us put off planning our income taxes until the very last day of …
Point to be taken care while filling Online Income Tax E-filing Confirm that the pre-filled details are correct by verifying PAN, permanent address, contact information, bank account information, etc. Find the appropriate return for you (from ITR-1 to ITR-7). Provide all pertinent information in the return, including the total amount of income, any deductions, any …
Directorate of Income Tax (Systems) issue instruction to AO on time bound reply to response against intimation U/S 245 Central Board of Direct Taxes has issued Instruction No. 06 of 2022 to the AO for response to notice / intimation U/s 245 issued by Centralised Processing Centre Bangalore for decreased in timeline for filling response …
Access or Availability to Chartered Accountants Audit Reports & Steps in The Process Flow for audit report & online Filing 2.0 The post includes a list of 22 audit reports and information on how to file them, as well as Process Flow Steps In Online Filing 2.0 on the New Income Tax Portal for all …
Form 15CA & 15CB- Revised rules related to Filling Form While making payments outside India it is needs few compliances. These compliance to be done form 15CB & 15CA, when it is need. The several transaction where you required to field this form as per explained in this article. ` Before sending the payment to …