It is generally seen that there is confusion among taxpayers about maintenance of books of accounts under Income Tax Act like who is required compulsorily…
Continue Reading....Category: Income Tax
Capital Gain on Conversion of Capital Asset into Stock in Trade
Section 45(2) of Income Tax Act deals with the cases where a capital asset is converted into stock in trade. Whenever a capital asset is…
Continue Reading....Capital gains under Income Tax Act 1961
Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been…
Continue Reading....Faceless assessment scheme
Faceless assessment means carrying out of income tax assessment procedure without human interface with the use of technology wherein, a centralized NeAC (National Electronic Assessment…
Continue Reading....Compulsory Complete Income Tax Scrutiny Guidelines during FY 2020-21
F.No.225/126/2020/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 17th September, 2020 To All Pr. Chief-Commissioners…
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