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Income tax returns 2021-22: Here are the financial transactions that will get reported to the I-T department

The income tax department had notified the launch of pre-filled returns for ease and accuracy of filing. To facilitate this process, CBDT issued a circular...

Applicability of Form 15CA & 15CB

What is Form 15CA? Form 15CA is a declaration of remitter used as a tool for collecting information in respect of payments that are chargeable...

A few changes that need to know about new income tax return forms for AY 21-22

The Central Board of Direct Taxes (CBDT) has notified income tax return (ITR) forms for the assessment year 2021-22 with minimum changes to reduce the compliance...

Know how it will impact you the new PF tax rules from April 2021 onwards

As per law, both the employer and the employee need to contribute 12% of their wages towards the provident funds. Till March 2020, employer...

2 to 5% TDS on small savings if ITR not filed

The small savings rate cut has been reversed, but investors in these schemes have other problems looming on the horizon. The government has introduced new rules...

Income tax slabs for AY 2021-22 under new tax regime and old tax regime

For FY 2020-21, taxpayers can choose between two income tax regimes - the existing/old tax regime and the new tax regime one. If one...

Provident fund interest taxability limit increased to Rs 5 lakh

The Hon'ble Finance Minister Nirmala Sitaraman announced modification of the threshold limit for taxability of interest on the provident fund to Rs 5 lakh...

Penalty for Concealment of Income in Respect of Specified Domestic Transaction

Introduction The provisions of transfer pricing are designed to keep a check on the practice of reducing the tax liability by entering into transactions at...

Tax Treatment of Dividend Received from a Foreign Company

Up to Assessment Year 2020-21, if a shareholder gets a dividend from a domestic company then he shall not be liable to pay any...

7 tax tasks you need to complete before 31 March 2021

The Financial Year 2020-21 is about to end, there are certain tax duties which we need to complete on or before 31st March 2021.  In...

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Taxclue
TaxClue Team

Taxclue is an online news portal for reporting all news, articles, judgments, Circulars, orders, and notifications relating to various corporate and tax laws in India. We use the tagline ‘Simplifying Laws’. Our mission is to Simplify the Laws and make people aware of their rights and duties in relation to tax matters in order to equip them to participate in nation-building.