Atmanirbhar Bharat Package 3.0: Govt announces Income Tax relief for Developers & Home Buyers on sale of residential units
The Indian govt has announced today (November 12, 2020) the Atmanirbhar Bharat Package 3.0 for various important issues - Employment (Atmanirbhar Bharat Rozgar Yojana); Credit line scheme (Aatmanirbhar Bharat Abhiyaan); Atmanirbhar Manufacturing; PM Awaas Yojana (PMAY) –Urban; Income Tax relief for Developers & Home Buyers to boost demand for residential real estate; Support for Agriculture; Rural employment (PM Garib Kalyan Rozgar Yojana), Captial and Industrial stimulus, R&D grant for COVID Vaccine development, among others.
Keep reading...ICAI important announcement regarding Opt-out scheme for November 2020 CA examination
The Institute of Chartered Accountants of India (ICAI) issued an important announcement through its examination department regarding the Opt-out Scheme applicable to students for the upcoming November 2020 CA examination. ICAI has first announced about the Opt-out Scheme on 23rd October 2020 and had prescribed this scheme for November 2020 examination
Keep reading...Income Tax Return for AY 2020-2021: All you need to know about ITR-1 SAHAJ
The ITR-1 Form is applicable for the assessment year 2020-21 only that it relates to income earned during the financial Year 2019-20. The ITR-1 is to be used by an individual who is a resident other than not ordinarily resident, whose total income for the Assessment Year 2020-21 does not exceed Rs. 50 lakh. No document (including TDS certificate) should be attached to this form.
Keep reading...Income Tax Returns Filing Date for AY 2020-2021 gets a new extension, CBDT extends deadline to December 31, 2020
The Central Board of Direct Taxes (CBDT) has extended the deadline for taxpayers to file their income tax returns (ITR) for FY 2019-2020 (Assessment year 2020-2021) to December 31st, 2020 from the previous deadline of November 30th, 2020
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