Expert Knowledge,
Straight from Practitioners.
Tax tips, legal guides, and financial advice written by the same verified CAs, Advocates, and Advisors you can consult on ConsultEase.
Demonetisation and its impact on Tax collection
Demonetisation and its impact on Tax collection and Formalisation of the Economy – Arun Jaitley Finance Minister Arun Jaitley has discussed demonetization and its impact on tax collection and formalization of the economy. The Reserve Bank has twice released its reports stating that the demonetized Notes of
Extension of date for filing ITR in the State of Kerala
Extension of date for filing ITR in the State of Kerala On 28th August 2018, Government of India has issued a Notification. In which, the extension of date for filing ITR in the State of Kerala was issued. The date for filing the ITR has
Guidelines for Manual selection of returns for Complete Scrutiny
Guidelines for Manual selection of returns for Complete Scrutiny The Central Board of Direct Taxes has issued the instruction regarding the Complete Scrutiny. The Subject of the instruction is “Guidelines for Manual selection of returns for Complete Scrutiny”. The instruction (Instruction No. 04/2018) was issued on
Conduct of Assessment proceedings through ‘E-proceedings’
Conduct of Assessment proceedings through ‘E-proceedings’ facility during 2018-19 The Central Board of Direct Taxes has issued instructions regarding the assessment proceedings through ‘E-proceedings’. The subject of the instruction is Conduct of Assessment proceedings through ‘E-proceedings’ facility during 2018-19-regd. The instruction was issued on 20th August
Implementation Guide by ICAI
Implementation Guide by ICAI Recently, the CBDT vide Notification No. 33/2018 dated 20th July 2018 has made revisions to Form No. 3CD wherein it requires additional requirements to be reported. The additional inclusions in the said form have increased the scope of tax audit significantly and
Capital Gain Exemption: House Property acquired in Foreign Countries
Capital Gain Exemption can be allowed to House Property acquired in Foreign Countries The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee is entitled to the capital gain exemption. u/s. 54F of the Income Tax Act in respect of the
Decoding ITR 7 of A.Y 2018-19
Decoding ITR 7 of A.Y 2018-19 Persons including companies that are required to furnish Income-tax return under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) shall furnish the return of income under the Income-tax Act, 1961 in Form ITR 7. Let
Clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961
Clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961 A circular is issued for Clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961. The circular was issued on the 16th August, Circular no. 5/2018. Section 270AA of the Income-tax Act,
Benami Law by CA Ashwani Taneja (Advocate)
Benami Law by CA Ashwani Taneja (Advocate) The Benami Act is the one of the most important law in India. CA Ashwani Taneja (Advocate) is an expert on Benami Law. CA Ashwani Taneja is an Ex-member of Income Tax Appellate Tribunal. He is now appearing
Postponement of Clause 30C and Clause 44
Postponement of Clause 30C and Clause 44 in Form 3CD(Tax Audit) A circular was issued on the 17th of August 2018 regarding the postponement of the Clause 30C and Clause 44 in Form 3CD of Income Tax. Form 3CD is the form for the tax audit
Circular No. 6/2018 – Income Tax
Circular No. 6/2018 – Income Tax Circular No. 6/2018 F. No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi, Dated the 17th of August 2018 The order under section 119 of the Income-tax Act,
Who can use/file ITR 4 (SUGAM)
Who can use/file ITR 4 (SUGAM) Form ITR 4 (SUGAM) can be used by an Individual/HUF/Firm (Other than LLP) whose total income for the year includes: Business income computed as per the provisions of section 44AD or 44AE; or ; Income from Profession as computed as per the