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[CP_CALCULATED_FIELDS id=”6″]

1. Payment of tax deducted at source (TDS) for the month of March 2020 into the Govt. treasury:

· No change in time for payment which is 30 April 2020

· However, reduced interest rate @ 0.75% per month or part thereof would be applicable for delay in payment of tax (instead of 1.5% per month or part thereof) for deposit of taxes between 1 May to 30 June 2020

You can withdraw up to three months’ salary (basic pay and dearness allowance) or 75% of the total EPF balance in your account whichever is lower.

[ratings] The government on Tuesday extended the deadline for filing income-tax returns for the FY20 assessment year by individuals and certain non-corporate assessees by one month to 31 August. The extension of due date was applicable to all taxpayers liable to file their tax returns by 31 July, the original due date. This applies to

[ratings] Any sum found credited in the books of the taxpayer, for which he offers no explanation about the nature and source thereof or the tax authorities are not satisfied by the explanation offered by the taxpayer, is termed as cash credit. In this part you can gain knowledge about various provisions relating to tax

[ratings] To resolve the issue Faced by stakeholder while filing INC-22A regarding the non prefill of Auditor details for those who have file GNL-2 instead of ADT-1 MCA issued the following clarification. Based on feedback received from stakeholders who were unable to file e-form ACTIVE as they had filed ADT-1 forms for appointment of auditors

[ratings] What is TDS? TDS stands for Tax Deduction At Source. It means that when an Individual/Organization/persons making the specified payment which are mentioned under Income Tax Act, 1961 to another person than that Person (who is making the payment) has to deduct the TDS when the amount of the payment exceeds the threshold limit.

[ratings] Deductions is respect of rents paid : Under Section 80GG, an Individual can claim deduction for the rent paid even if he don’t get HRA. Not many people are aware of this deduction Under Section 80GG. Section 80GG allows the Individuals to a deduction in respect of house rent paid by him for his