Most Important Exemption under Total Income
Most Important Exemption under Total Income According the provision of Income Tax Act ,1961 there is various exemption available under section 10 from total income. 1. Agriculture Income: We … Read More
Welcome To Free Tax Guru
Most Important Exemption under Total Income According the provision of Income Tax Act ,1961 there is various exemption available under section 10 from total income. 1. Agriculture Income: We … Read More
Capital Gains According the provision section -45 of Income Tax Act,1961, Any profits or gains arising from the transfer of a capital asset effected in the previous year shall save … Read More
Budget 2021 According to Financial Budget 2021 presented on 1st Feburary 2021 by Finance Minister Nirmala Sitaraman. No Change in Income Tax Slab Tax audit limit incresed from 5 crore … Read More
Who is liable to deduct TDS ? According to Income Tax Act,1961 TDS is required to be deducted before making any payments in cash or before issuing any cheque or … Read More
Standard deduction on salary income section 16(ia) According to Income Tax Act, 1961 reintroduced standard deduction from salary income Quantum of Amount 1. Salary Income 2. Rs.50,000 Whichever is less … Read More
Income Tax Implications on Sale and Purchase of Property According to Income Tax Act 1961, sale of property chargeable to capital gain.
Penalty for failure to get accounts Audited Sections 271B According to Income Tax Act 1961 compulsory audit of account under section 44AB Every person carrying on business shall if his … Read More
Compulsory audit of accounts (Section 44AB) According to Income Tax Act 1961 compulsory audit of account need in case of annual turnover exceed Rs. 1 crore in any previous year … Read More
Extension of time limit for filing Income Tax Return for A Y 2019-20 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes has extended date … Read More
Compulsory Complete Income Tax Scrutiny Guideline F.Y 2020-21 F.No.225/126/2020/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II Division) … Read More