Income Tax Returns Forms 1 to 7 for A/Y 2020-21 Notified. Key changes in ITR forms for the AY 2020-2021. Passport One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms […]
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Possibilities of errors & its solutions in GSTR-3B
When GST came in 2017, there was a provision of GSTR 1, GSTR 2 and GSTR 3 returns. GSTR-3B (i.e. a summary return) was brought for short period by the Government. What is 3B? Simple Tax return form in which Summary of sale and purchase, available input tax credit, tax payable, tax paid is to be furnished. […]
Tax Saving Investment Options & Deductions under Income Tax for Individual and HUF
I have brief the deductions available to Individual and Hindu Undivided Family for Assessment Year 2020-21. To claim deduction in any year, it is necessary to invest in that year. Due to Covid Pandemic, Govt. has extended the date to 31.07.2020 for financial year 2019-2020 to make investment for deduction under chapter VI-A and section […]