ITR filing due date extended till December 31

It also extended due dates of various reports of audit for the Assessment Year 2021-22. Source link

Sold unlisted shares? Know the tax implications

As equity shares of a company are considered as capital assets, selling such shares would either result in a capital gain or capital loss. Source link

Your Queries: Income Tax – Do we have to show income from FD, dividends

Set off short term capital loss in debt funds against LTCG in equity funds Source link

ITR due date extension: Will you get interest relief on payment of tax during the extended period?

Instead of July 31, 2021, the due date for filing ITR for the Assessment Year (AY) 2021-22 will now be September 30, 2021. Source link

Your Queries – Income Tax: Cannot adjust LTCG gains against payments for flat made over 5 years

The long-term capital gains from sale of a residential house property (held for more than 24 months) can be claimed as exemption under Section 54 by re-investing in another residential…

Your Queries (Income Tax): How is capital gains tax calculated with reference to selling of land?

For tax purposes, immovable property, i.e., land or building is classified as long-term capital asset if it is held for a period exceeding 24 months, else, it is regarded as…

TDS on Dividend Income: How to get relief if you don’t have taxable income

The details of dividend income and TDS will now be available on the new format of Form 26AS to make filing of Income Tax Return (ITR) easier and to make…

Income Tax Return filing: Revised instructions for filing ITR Forms 2, 3, 5, 6 & 7

To help taxpayers and make the ITR filing experience smooth, the Income Tax Department has issued revised instructions for filing ITR forms for A.Y. 2020-21. Source link

Income Tax: Deduction of expenses deemed to be claimed under presumptive tax scheme

Section 194C governs deduction of TDS on payment to contractors and not professionals. Source link