The CBDT vide circular No. 08/2021, dated 30-04-2021 has extended the due dates relating to various compliance under Income Tax Act, 1961. In order to provide further relief to taxpayers in view of a severe pandemic, the CBDT vide circular No. 09/2021, dated 20-05-2021 has further extended the time limits of certain compliances. Extension of […]
Tag: TDS
TDS on payment by e-commerce operator applicable from 1st October 2020
Section 194O has been introduced in the Union Budget 2020. This section is applicable from 1st October 2020. Scope of section Where the sale of goods or services of e-commerce participants is facilitated by an e-commerce operator through its digital or electronic facility or platform, such an e-commerce operator is required to deduct tax […]
Deadlines that ends on 31st July, 2020
Due to the coronavirus pandemic, the government had extended the various due dates for giving relaxations to the taxpayers. In this context, the government has been extended the due date for filing of the income tax return for the financial year 2018-19 (2019-20) to 30th September 2020 via notification no. 56/2020 dated 29.07.2020. It should […]
New rule for Cash withdrawal Effective From 1st July 2020
Section 194N of Income Tax Act TDS on payment of certain amounts in cash Deductor: Bank, Co-operative bank or a post office Threshold limit: If aggregate payment in cash from one or more accounts during a previous year to an account holder exceeds the threshold limit given below: Time of Payment Threshold limit for payment in cash […]