Changes and Amendment Archive

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Circular No. 08/2021: Dated 30th April 2021

Circular No. 08/2021:- CBDT has extended certain timelines of Income Tax to 31st May 2021

Extension of time lines related to certain compliance by the taxpayers under the Income Tax Act, 1961
TDS and TCS Rates applicable from 1st April 2021

FY 2021-22: Applicability of TDS/TCS Rate and Threshold from 1st April 2021

In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TDS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 and it remained applicable till 31st March 2021.
Income Tax Changes From April 2021

These Income Tax rules will change from April 2021

In Budget 2021, FM Smt. Nirmala Sitharaman has left personal Income Tax Rates unchanged, however, it comes with some other changes in Income Tax that will help ease the compliance for taxpayers. Here are the Some Income Tax Changes From April
Section 206CCA of the Income Tax Act 1961

Section 206CCA: Higher Rate of TCS for non-filers of Income Tax Return

Section 206AB and Section 206CCA - Special provision of TDS and TCS for non-filers of Income Tax Return at Higher Rates.
Section 206AB of the Income Tax Act 1961

Section 206AB: Higher Rate of TDS for non-filers of Income Tax Return

Section 206AB and Section 206CCA - Special provision of TDS and TCS for non-filers of Income Tax Return at Higher Rates.
Section 194P of the Income Tax Act

Section 194P- No ITR Filing for Senior Citizen aged above 75 years

Section 194P Conditional Relaxation for senior citizens who are of the age of 75 year or above from filing return of income-tax under Union Finance Bill 2021/ Budget 2021.
annual Information Statement AIS

Annual Information Statement (AIS)- New form 26AS notified in Income Tax

New form 26AS- From Assessment year 2021-22, the department has changed the format of form 26AS. Taxpayers will see improved form 26AS called Annual Information Statement, applicable from 01st June 2020. AIS is the new format as prescribed by the department,
new transaction in form 26AS

New transaction in Form 26AS- Now hotel bill over Rs. 20000 will now reflect in your ITR, check the latest changes

Form 26AS is a Tax credit Statement, which shows details of tax deducted, tax collected, self-assessment tax paid, advance tax paid, income tax refund received, etc. Since the 1st June scope of form, 26AS has become wide and it now becomes
Difference between GSTR 4 and GSTR 9A

Difference between GSTR 4 and GSTR 9A- Composition dealer

Bo the returns are annual returns for composition dealers. Due to recent changes in GST returns there is a lot of confusion among stakeholders, that whether we need to file both returns for the same year, and if yes then what
Change in ITR form for AY 2020-21

Changes in ITR form for AY 2020-21- know key changes

Changes in ITR Forms for AY 2020-21 | Key changes in ITR form for AY 2020-21 | ITR Forms for AY 2020-21 | Income Tax return form online for AY 2020-21 Changes in ITR form- Here is the good news for