Tax

Cost inflation index notified for FY 2020-21 for calculation of LTCG

The CBDT recently notified the cost inflation index at 301 for the…

CBDT notifies ITRs for the tax filings of AY 2020-21 (FY 2019-20)

The CBDT has notified the income tax returns for tax filings for…

New Form 26AS notified with effect from 1 June 2020

Form 26AS is an annual statement stating the tax payment details including…

B2B transactions exempt from deploying e-payment facilities u/s 269SU

Every business with a turnover above Rs 50 crore in the previous…

Government to consider tax refunds for large entities

The government is likely to provide large entities with income tax and…
TDS return

Form 15G and 15H submitted for FY 2019-20 is valid up to 30 June 2020

Form 15H and 15G submitted for claiming nil tax or TDS will…
GST Revenue

Hacking Into GST Database Can Result in 10-Year Imprisonment

As per a notification that was released on 4 February, the Ministry…

CBDT Clarifies the TDS Applicability on Mutual Fund Dividend

The budget proposes for the abolition of Dividend Distribution Tax (DDT) paid…

IT department to allow payment of tax assessment demands in instalments

The income tax department had raised tax demands in the tax assessments…
GST

Government makes an upward revision to the GST revenue targets

The Ministry of Finance has raised the bar for the GST collections…