Income Tax
Articles
Reforms in Taxability of ESOP’s (Equity Stock Option Plans)
What is an Employee Stock Option Plan (ESOP)?
An employee stock ownership plan (ESOP) is basically a plan given to employee’s wherein subscription to the same gives employee(s) ownership interest in the company. ESOPs give...
Articles
No Tax to be deducted under Section 194A of Income Tax Act,1961 on Scheduled Tribes: CBDT
According to a recent notification by Central Board Of Direct Taxes (CBDT) vide Notification No. 110/2021/F. No. 275/27/2021-IT(B) dated 17.09.2021, no tax shall be deducted under section 194A of the Income Tax Act,1961...
Case Laws
AO not permitted to invoke the provisions of section 56(2)(vii)(b)(ii) in the absence of sub clause (ii) in the Act as on the date...
Parinda Borda vs. ITO
Where the assessee had entered into agreement to sale cum possession of immovable property and paid substantial consideration prior to the date of amendment of the section 56(2)(vii)(b)(ii) of the...
Articles
CBDT Announces Extension of Due Dates for various e-filing forms
A big relief to the taxpayers has been provided by the finance ministry to the taxpayers by extending the due dates. It was much needed as the new portal has a lot of glitches...
Articles
Central Government Employees to enjoy a hike in Dearness Allowance from 17% to 28%
“The President is pleased to decide that the Dearness allowance payable to Central Government employees & dearness relief to pensioners shall be enhanced from the existing rate of 17% to 28% of the basic...
Articles
New MSME Udyam Registration Process and all you need to know
The government has organized a system to facilitate the registration of MSMEs. An enterprise for this process will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’. A permanent...
Articles
Issues on the New Income Tax Portal 2.0
The new Income Tax Website was launched on the 7th of June at 8:45 PM replacing the old income tax website. The new website was launched with the aim of providing its users and taxpayers...
Articles
Due Date Calendar for June’2021
A) Due dates for Compliance under Income Tax
7 June 2021 - Due date for deposit of Tax deducted/collected for the month of May, 2021. However, all sum deducted/collected by an office of the government...
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