S K and Associates : INCOME TAX

What can be the reasons for refund failure?

<p> </p><h2>What can be the reasons for refund failure?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsUchyrGqd_UElPGt2IEfrS0M1I2rBjqFEkuP4So-Q0lS3DqNxCBl9j1yR-rQvDkae6MCCKs7skUhjuobfwo3QR6wzUjGxbkHb_bmVOimFo_khy808WiNb7dOjdwyWmz7SD7UHP6jjSgiWxtJz5xzTkmJPKjfMSdaLdS_9sUsKX6ogFYUcKAesJUr1KavQ/s240/images.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="180" data-original-width="240" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsUchyrGqd_UElPGt2IEfrS0M1I2rBjqFEkuP4So-Q0lS3DqNxCBl9j1yR-rQvDkae6MCCKs7skUhjuobfwo3QR6wzUjGxbkHb_bmVOimFo_khy808WiNb7dOjdwyWmz7SD7UHP6jjSgiWxtJz5xzTkmJPKjfMSdaLdS_9sUsKX6ogFYUcKAesJUr1KavQ/s1600/images.jpg" width="240" /></a></div><br /></h2>Failure of credit of refund can be due to one or more reasons as listed below:<br /><ul><li>If your PAN is inoperative, your refund will get failed and you will see a warning message to link your PAN with the Aadhaar.</li><li>Incorrect Bank Details (Account no, MICR Code, IFSC Code, Name mismatch etc.)</li><li>Account holder KYC is pending</li><li>Account details given are other than Current Account or Saving Bank Account</li><li>Account Description is incorrect</li><li>If the account that you have mentioned in the ITR has been closed.</li><li>In case the bank account is not pre-validated. It is now compulsory to pre-validate your bank account.</li></ul>

What can be the reasons for refund failure?

What can be the reasons for refund failure? Failure of credit of refund can be due to one or more reasons as listed below: If your PAN is ...

OLD AND NEW TAX REGIME DETAILS IN FAQs.

<p> </p><p><img alt="Difference Between Old Vs New Tax Regime: Which is Better?" class="sFlh5c FyHeAf" data-ilt="1725106025127" src="https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT-dXFSImjOSjgzzE6UOTYLY2MYpLsnuyifZQ&s" style="max-width: 1280px; position: absolute; visibility: hidden;" /> <img alt="Difference Between Old Vs New Tax Regime: Which is Better?" class="sFlh5c FyHeAf" data-ilt="1725106025127" src="https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT-dXFSImjOSjgzzE6UOTYLY2MYpLsnuyifZQ&s" style="max-width: 1280px; position: absolute; visibility: hidden;" /></p><p> <img alt="Difference Between Old Vs New Tax Regime: Which is Better?" class="sFlh5c FyHeAf" data-ilt="1725106025127" src="https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT-dXFSImjOSjgzzE6UOTYLY2MYpLsnuyifZQ&s" style="max-width: 1280px; position: absolute; visibility: hidden;" /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5HZwxCAZJ4SCYgMp9CyeT_dW-mHEW3M2dHrU8kHt07jaay8wqS0I6mNy098OM160IOVA0b8B3PiiO7UWvcBTkE16q77JaMvgzwQNBqKMiSeYHjopt5RV_TDOexf3t34jgJoECbXfV09-9IaBAFPd4M9UgP5a-Q2Dp-5qP4tTXU8uykCPgisdrL117Zzbu/s1280/For-blog_3feb-01.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="1280" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5HZwxCAZJ4SCYgMp9CyeT_dW-mHEW3M2dHrU8kHt07jaay8wqS0I6mNy098OM160IOVA0b8B3PiiO7UWvcBTkE16q77JaMvgzwQNBqKMiSeYHjopt5RV_TDOexf3t34jgJoECbXfV09-9IaBAFPd4M9UgP5a-Q2Dp-5qP4tTXU8uykCPgisdrL117Zzbu/s320/For-blog_3feb-01.jpg" width="320" /></a></div><br /><p> </p><p>1. Overview<br />The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make<br />new tax regime the default tax regime for the assessees being Individual, HUF, AOP (not being co-<br />operative societies), BOI or Artificial Juridical Person. However, the eligible taxpayers have the<br />option to opt out of new tax regime and choose to be taxed under old tax regime. The old tax<br />regime refers to the system of income tax calculation and slabs that existed before the<br />introduction of the new tax regime.<br />In case of "non-business cases", option to choose the regime can be exercised every year directly<br />in the ITR to be filed on or before the due date specified under section 139(1).<br />In case of taxpayers having “income from business and profession” and who want to opt out of<br />new tax regime, the assessee would be required to furnish Form 10-IEA on or before the due date<br />u/s 139(1) for furnishing the return of income. Also, for the purpose of withdrawal of such option<br />i.e. opting out of old tax regime shall also be done by way of furnishing Form No.10-IEA.<br />New tax regime is the default tax regime. However, taxpayers can opt for the old regime.<br />New vs. Old Tax Regime> FAQs</p><p><br />1) What is the difference between the old and new tax regime?<br />Ans: The tax slabs and rates are different in old and new tax regimes. Various deductions and exemptions are<br />allowed in Old tax regime. The new regime offers lower rates of taxes but permits limited deductions<br />and exemptions.</p><p><br />2) Which is better between the old tax regime and the new tax regime?<br />The option to choose between two regimes may vary from person to person. It is advisable to do a<br />comparative evaluation and analysis under both regimes and then choose as per requirement.<br />Taxpayers can broadly estimate and compare tax liability under the new and the old tax regime using<br />Income and Tax Calculator on the Income Tax Portal.<br />FAQs on New vs. Old Tax Regime<br />(AY 2024-25)<br />2<br />3) Is it necessary for the employee to intimate the tax regime to the employer?<br />Yes, the employee has to intimate the employer regarding his intended tax regime during the<br />year. If the employee does not make an intimation, it shall be presumed that the employee<br />continues to be in the default tax regime and has not exercised the option to opt out of the new tax<br />regime. Thus, the employer shall deduct tax in accordance with the rates provided under section<br />115BAC.<br />However, the intimation made to the employer would not amount to exercising the option in sub-<br />section (6) of section 115BAC for opting out of the new tax regime. The employee shall be required<br />to do so separately before the due date specified under section 139(1) for filing of return of income.<br />4) I am a salaried taxpayer. Can I claim HRA exemption in the new regime?<br />Under the old tax regime, House Rent Allowance (HRA) is exempted under section 10(13A) for<br />salaried individuals. However, this exemption is not available in the new tax regime.<br />5) Am I eligible for Rs. 50,000 standard deduction in the new tax regime?<br />Yes, Standard deduction of Rs.50,000 or the amount of salary, whichever is lower, is available for<br />both old and new tax regimes from AY 2024-25 onwards.<br />6) In the new tax regime can I claim deductions under chapter-VIA like section 80C, 80D,<br />80DD, 80G etc. while filing the ITR for AY 2024-25?<br />In new tax regime, Chapter-VIA deductions cannot be claimed, except deduction u/s<br />80CCD(2)/80CCH/80JJAA as per the provision of Section 115BAC of the Income Tax Act, 1961. In<br />case, taxpayer wants to claim any deductions (as applicable), then taxpayer needs to choose the old<br />tax regime by selecting “Yes” option in ITR 1 / ITR 2 (or) “Yes, within due date” option in ITR 3 / ITR<br />4 / ITR 5 in the field provided for “opting out option” under Schedule ‘Personal Information’ or ‘Part-<br />A General’ in the respective ITR.<br />in ITR 1 / ITR 2<br />3<br />Or in ITR 3 and ITR 4<br />7) Can I claim deduction of Interest on borrowed capital of Rs. 2,00,000/- for self occupied<br />property under Income from House Property in the new tax regime?<br />In the new tax regime, “Interest on borrowed capital for Self-occupied property” is not allowed as<br />a deduction from Income from House property as per the provision of Section 115BAC of the Act,<br />1961. In case, the Taxpayer wants to claim deduction of interest on borrowed capital for SOP, then<br />taxpayer must choose ‘Old Tax Regime’ by selecting “Yes” in ITR 1 / ITR 2 or “Yes, within due date”<br />option in ITR 3 / ITR 4 / ITR 5 in the field provided for “opting out option” in the ITR Form.<br />8) I am a senior citizen. In the old tax regime there are special advantages in tax rates for<br />senior citizens. Are there any such advantages in new tax regime?<br />4<br />In the old tax regime , the basic exemption limit for senior citizens is Rs. 3,00,000/- and for super<br />senior citizens, it is Rs. 5,00,000/-. In the new tax regime, no income tax is payable upto the total<br />income of Rs. 7 lakh.<br />9) Is there any difference in tax rebate under section 87A in old and new tax regime?<br />In the old tax regime in case of a resident individual, whose total income does not exceed Rs.<br />5,00,000/- there is rebate of 100 percent of income tax subject to a maximum of Rs. 12,500/.<br />In the new tax regime, w.e.f 01-04-2024, in case of a resident Individual, the rebate will be<br />applicable on total income chargeable to tax under subsection (1A) of section 115BAC as<br />under:<br />(a) where such total income does not exceed seven hundred thousand rupees, a deduction<br />from the amount of income-tax (as computed before allowing for the deductions under<br />Chapter VIII) on his total income with which he is chargeable for any assessment year, of an<br />amount equal to one hundred per cent of such income-tax or an amount of twenty-five<br />thousand rupees, whichever is less;<br />(b) where such total income exceeds seven hundred thousand rupees and the income-tax<br />payable on such total income exceeds the amount by which the total income is in excess of<br />seven hundred thousand rupees, a deduction from the amount of income-tax (as computed<br />before allowing the deductions under this Chapter) on his total income, of an amount equal to<br />the amount by which the income-tax payable on such total income is in excess of the amount<br />by which the total income exceeds seven hundred thousand rupees.<br />10) While filing ITR for FY 2023-24 (AY 2024-25), I want to opt for the old tax regime<br />instead of the default new tax regime, should I file Form 10-IEA before filing his income<br />tax return (ITR)?<br />Form 10-IEA is a declaration made by the return filers for choosing the ‘Opting Out of New Tax<br />Regime’. An Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical<br />Person with business or professional income must submit Form 10-IEA if they wish to pay income<br />tax as per the old tax regime. On the other hand, taxpayers who do not have income from business<br />or profession can simply tick the “Opting out of new regime” in the ITR form without the need to<br />file Form 10-IEA. Simply put, only those who file ITR-3, ITR-4 or ITR-5 have to submit Form 10-IEA<br />if they have business income (other than coop societies). Individuals and HUFs filing their returns<br />in Forms ITR-1 or 2 are not required to submit Form 10-IEA.<br />11) I am filing ITR in new regime for AY 2024-25. Can I switch between old and new tax<br />regime in the next years?<br />5<br />An Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person with<br />business or professional income will not be eligible to choose between the two regimes every year.<br />Once they opt out of new tax regime, they have only one chance for switching to new regime. Once<br />they switch back to the new regime, they won’t be able to choose old regime anytime in future. An<br />individual with non business income can switch between the new and old tax regimes every year.<br />Within the same year, again it is emphasized that the choice of old tax regime can be made only before<br />the due date of filing the return u/s 139(1) of I T Act.<br />12) I am having business income and have opted in and opted out from the new regime in the<br />previous years. So, will I be in old regime for the AY 2024-25?<br />Please note that new tax regime is default regime for AY 2024-25. Any actions in any previous years<br />with respect to choice of regimes will not be applicable from AY 2024-25. You are required to<br />submit Form 10-IEA again in case you want to opt for the old regime.<br />13) I have business income, I have wrongly filed Form 10-IEA but want to file the return under<br />new tax regime. As there is no option to withdraw Form 10-IEA in that case whether my<br />return can be filed under new tax regime?<br />Once Form 10IEA is filed for AY 2024-25, then it cannot be revoked / withdrawn in same AY. If you<br />wish to re-enter into new tax regime then you can file Form 10IEA for withdrawal option in the next<br />assessment year. Again it is emphasised that that the choice of old tax regime can be made only before<br />the due date of filing the return u/s 139(1) of I T Act.<br />14) I am filing ITR-5. I want to opt out of new tax regime? Whether Form 10-IFA or Form 10-<br />IEA would be applicable to me?<br />Form 10-IEA is applicable to AOP’s (other than Co-operative society) or BOI or AJP, who are filing<br />return of Income in ITR-5 for AY 2024-25.<br />Form 10-IFA is applicable to new manufacturing co-operative Societies resident in India filing ITR<br />5, if they wish to avail New Tax Regime under Section 115BAE for AY 2024-25</p>

OLD AND NEW TAX REGIME DETAILS IN FAQs.

1. Overview The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax...

HOW CAN VIEW PAID INCOME TAX ON WEBSITE

PAN AADHAAR NOT LINKED TDS DEDUCTED @ 20%

<p> </p><p><b>Adv Shahdab Khan<span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span><span>    </span> S K & Associates</b></p><p><br /></p><p></p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMxHnnGNTDQuuMFCk3uYLV2DHFkLUmKPa82OYgrxoWy9sn4ilxubguSytPuIyOFxd_yzZ-u6I6g7BVcNVZA91UV9KgVKqpbYYxA_p8oYL3ZTXmW_0GNGd6OpxqBjKwLvdq0GQREGg2rptUa3ZaiF_AhNAL8VyhE5PtXl8ULLwcAHp5LA2tMzLz0RYvm3g_/s410/Untitled.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="274" data-original-width="410" height="214" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMxHnnGNTDQuuMFCk3uYLV2DHFkLUmKPa82OYgrxoWy9sn4ilxubguSytPuIyOFxd_yzZ-u6I6g7BVcNVZA91UV9KgVKqpbYYxA_p8oYL3ZTXmW_0GNGd6OpxqBjKwLvdq0GQREGg2rptUa3ZaiF_AhNAL8VyhE5PtXl8ULLwcAHp5LA2tMzLz0RYvm3g_/s320/Untitled.png" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></div></div></div><p></p><p><b style="text-align: justify;"><span style="font-size: 24pt; line-height: 107%; mso-bidi-font-size: 13.5pt;">If PAN is not linked with Aadhaar or is inoperative then the TDS should
be deducted at a higher rate @ 20% from 01st July-2023.</span></b></p>

<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">a) Employees</span></b><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"> - whose taxable income is between Rs. 250000 - Rs.
500000 and are in the tax bracket of 5% - TDS will be deducted @ 20% instead of
5%. Employees whose taxable Income does not exceeds Rs. 500000/- they are
entitled for Section 87A rebate and balance Tax will be recovered from their
Salaries. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">b) Consumers</span></b><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"> – Interest paid/credited in excess of Rs. 5000/- on
Security deposit is subject to TDS @ 10% u/s. 194A. If they do not link their
PAN with AADHAR TDS will be deducted @ 20%. Similarly, TCS will be collected at
higher rate as per provisions of Section 206CC which is @ 5%. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">c) Vendors</span></b><span style="font-size: 14pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"> – TDS is required to be deducted at higher rate where
payment is made u/s. 194A to 194 Q for payment made to Vendors.<o:p></o:p></span></p>

PAN AADHAAR NOT LINKED TDS DEDUCTED @ 20%

Adv Shahdab Khan ...

SECTION 234F

SECTION 234F LATE FEES ON INCOME TAX RETURN

<p></p><p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">SK &
Associates<span style="mso-tab-count: 7;">                                                             </span>
S K 24 news<o:p></o:p></span></b></p>

<p class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">SECTION
234F <o:p></o:p></span></b></p>

<p class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -0.25in;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 11.0pt; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7pt "Times New Roman";">  
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">IF TOTAL
INCOME IS BELOW LIMIT SAY 2.5 LACS NO LATE FEES<o:p></o:p></span></b></p>

<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -0.25in;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 11.0pt; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7pt "Times New Roman";">  
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">IF TOTAL
INCOME FROM 2.5 -5 LAKH RS-1000/-<o:p></o:p></span></b></p>

<p class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -0.25in;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-font-size: 11.0pt; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3.<span style="font: 7pt "Times New Roman";">  
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">IF TOTAL
INCOME IS ABOVE 5 LACS RS-5000/-<o:p></o:p></span></b></p>

<p class="MsoNormal" style="margin-left: 0.25in;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><o:p><br /></o:p></span></b></p><p class="MsoNormal" style="margin-left: 0.25in;"><b><span face=""Calibri","sans-serif"" style="font-size: 18pt; line-height: 107%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">https://www.youtube.com/channel/UCHm8IS5NT9eV4EBF6Iz8X3Q</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 18pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><o:p> </o:p></span></b></p><br /><p></p>

SECTION 234F LATE FEES ON INCOME TAX RETURN

SK & Associates S K 24 news 9911045440 SECTION 234F 1. IF TO...

No changes in the old tax regime

<div><br /></div><ul style="text-align: left;"><li><span style="font-family: Montserrat, Verdana; font-size: xx-large;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlaMpwUdTKKZw0TNrS6U3p8KEUCXQFAqziczZ46yZtRldkaQxFGripIGXDHxHdJmQ29zgfwZnLK6sNA1sdKGlDr7qhY6OanMqfO97SqaMb0qqnZ7r9q1wmG1cHzzSp8Jt456eYOG8aB3IzGBGn2PX12zqIo3-PxloR9YeNHKmTXBr8B0azB8ErqBp2FQ/s1280/My%20project-1%20(2).png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="1280" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlaMpwUdTKKZw0TNrS6U3p8KEUCXQFAqziczZ46yZtRldkaQxFGripIGXDHxHdJmQ29zgfwZnLK6sNA1sdKGlDr7qhY6OanMqfO97SqaMb0qqnZ7r9q1wmG1cHzzSp8Jt456eYOG8aB3IzGBGn2PX12zqIo3-PxloR9YeNHKmTXBr8B0azB8ErqBp2FQ/w640-h360/My%20project-1%20(2).png" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><span style="text-align: left;">No changes in the old tax regime</span></div></span></li></ul><ul style="text-align: left;"><li><span style="font-family: Montserrat, Verdana; font-size: xx-large;">New tax regime to become the default tax regime. However, citizens can opt for the old tax regime.</span></li></ul><div><span style="font-family: Montserrat, Verdana; font-size: x-large;"><br /></span></div><ul style="text-align: left;"><li><span style="font-family: Montserrat, Verdana; font-size: xx-large;">No tax on income up to Rs 7.5 lakh a year in new tax regime (with inclusion of standard deduction)</span></li></ul><div><span style="font-family: Montserrat, Verdana; font-size: x-large;"><br /></span></div><ul style="text-align: left;"><li><span style="font-family: Montserrat, Verdana; font-size: xx-large;">Govt proposes to reduce highest surcharge rate from 37% to 25% in new tax regime</span></li></ul><h1 style="text-align: left;"><br /></h1><div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-family: arial; font-size: 12px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><br /></div>

No changes in the old tax regime

No changes in the old tax regime New tax regime to become the default tax regime. However, citizens can opt for the old tax regime. No tax o...

TIME FOR FILING OF VARIOUS AUDIT REPORTS FOR THE ASSESSMENT YEAR 2022-23 HAS BEEN EXTENDED TILL..............

<p> </p><p class="MsoNormal"><span style="background: white; font-family: "Arial","sans-serif"; font-size: 10.5pt; letter-spacing: .2pt; line-height: 107%;">TIME FOR FILING OF
VARIOUS AUDIT REPORTS FOR THE ASSESSMENT YEAR 2022-23 HAS BEEN EXTENDED TILL
07TH OCTOBER, 2022</span><o:p></o:p></p><p class="MsoNormal"><span style="background: white; font-family: "Arial","sans-serif"; font-size: 10.5pt; letter-spacing: .2pt; line-height: 107%;"><br /></span></p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh9DvG3RR1ACG5SZ5cKmw_QFHe_KFrnLRv__SaZZwYP1PWzLYzFF5ZGYJCeKz0Zz-plsQ2mN0kktxT1bkpLIol7mkO7JUhG-JPtPvMlgRysJIM3cPY8oy4v48qTCo0ukn0UBMDy8tXbbHsvfV8sTNvzgQKWxZm7yL9blAuuXXAUrAO44wWzvdBuWNF1Fw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="253" data-original-width="687" height="299" src="https://blogger.googleusercontent.com/img/a/AVvXsEh9DvG3RR1ACG5SZ5cKmw_QFHe_KFrnLRv__SaZZwYP1PWzLYzFF5ZGYJCeKz0Zz-plsQ2mN0kktxT1bkpLIol7mkO7JUhG-JPtPvMlgRysJIM3cPY8oy4v48qTCo0ukn0UBMDy8tXbbHsvfV8sTNvzgQKWxZm7yL9blAuuXXAUrAO44wWzvdBuWNF1Fw=w655-h299" width="655" /></a></div><br /><br /></div><br /><p class="MsoNormal">ADVOCATE</p><p class="MsoNormal"><br /></p><p class="MsoNormal">SHAHDAB KHAN</p><p class="MsoNormal">9911045440</p>

TIME FOR FILING OF VARIOUS AUDIT REPORTS FOR THE ASSESSMENT YEAR 2022-23 HAS BEEN EXTENDED TILL..............

TIME FOR FILING OF VARIOUS AUDIT REPORTS FOR THE ASSESSMENT YEAR 2022-23 HAS BEEN EXTENDED TILL 07TH OCTOBER, 2022 ADVOCATE SHAHDAB KHAN 9...

BIG CHANGES IN 26AS

ईमानदार टैक्सपेयर्स को सरकार का तोहफा, लागू हुई फेसलेस अपील की सुविधा

<p> </p><div class="news_card" data-attr="news_card" style="-webkit-tap-highlight-color: transparent; background-color: white; border: 0px; font-family: "NotoSans Regular", Arial, Helvetica, sans-serif; font-size: 20.8px; margin: 0px 0px 26.25px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><div class="enable-read-more" style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; overflow: hidden; padding: 0px 0px 10px; text-size-adjust: none; vertical-align: baseline;"><div class="first_col" style="-webkit-tap-highlight-color: transparent; border: 0px; display: inline-block; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: top; width: 590.922px;"><h2 class="caption text_ellipsis" read-more="handled" style="-webkit-box-orient: vertical; -webkit-line-clamp: 2; -webkit-tap-highlight-color: transparent; border: 0px; color: #7d7d7d; display: -webkit-box; font-size: 1.4rem; font-weight: normal; line-height: 2.2rem; margin: 0px; max-height: 4.4rem; overflow: hidden; padding: 0px; text-overflow: ellipsis; text-size-adjust: none; transition: max-height 0.4s ease-out 0s; vertical-align: baseline;">ईमानदार टैक्सपेयर्स का सम्मान करने और टैक्स कलेक्शन में पारदर्शिता को बढ़ावा देने के लिए आज से Faceless Income Tax Appeals की व्यवस्था शुरू हो गई। वित्त मंत्रालय ने इसे लागू करने के लिए शुक्रवार को एक अधिसूचना जारी की।</h2></div><div class="second_col" data-exclude="amp" style="-webkit-tap-highlight-color: transparent; border: 0px; display: inline-block; margin: 0px 0px 5px; padding: 0px; text-size-adjust: none; vertical-align: bottom; width: 65.6562px;"><span class="readmore expand" style="-webkit-tap-highlight-color: transparent; border: 0px; cursor: pointer; display: block; margin: 0px; padding: 0px; position: relative; text-size-adjust: none; vertical-align: baseline;"> </span></div></div><div class="img_wrap" style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px 0px 10px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><img alt="Faceless Income Tax Appeals की व्यवस्था शुक्रवार से लागू हो गई।" placeholder="https://static.langimg.com/thumb/msid-76874587,width-540,height-405,resizemode-75/Navbharat Times.jpg" src="https://static.langimg.com/thumb/msid-78317660,imgsize-93091,width-540,height-405,resizemode-75/navbharat-times.jpg" style="-webkit-tap-highlight-color: transparent; border: 0px; height: auto; margin: 0px; max-width: 100%; padding: 0px; text-size-adjust: none; vertical-align: bottom;" title="Faceless Income Tax Appeals की व्यवस्था शुक्रवार से लागू हो गई।" width="100%" /><span itemprop="image" itemscope="" itemtype="https://schema.org/ImageObject" style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"></span><div class="img_caption" style="-webkit-tap-highlight-color: transparent; background: transparent; border: 0px; color: #8d8d8d; font-size: 1.2rem; line-height: 2rem; margin: 5px 0px 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;">Faceless Income Tax Appeals की व्यवस्था शुक्रवार से लागू हो गई।</div></div></div><div style="-webkit-tap-highlight-color: transparent; background-color: white; border: 0px; font-family: "NotoSans Regular", Arial, Helvetica, sans-serif; font-size: 20.8px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><article class="story-content" itemprop="articleBody" label="क्रिटिक रिव्यू" style="-webkit-tap-highlight-color: transparent; border: 0px; color: #333333; font-size: 1.45rem; line-height: 2.7rem; margin: 0px; overflow-wrap: break-word; overflow: hidden; padding: 0px 0px 20px; text-size-adjust: none; vertical-align: baseline;" tab="active"><div class="undefined top-article tophighlight" style="-webkit-tap-highlight-color: transparent; background: rgb(235, 235, 235); border: 0px; clear: both; margin: 0px 0px 26.25px; padding: 13.125px 19.6875px; text-size-adjust: none; vertical-align: baseline;"><h3 style="-webkit-tap-highlight-color: transparent; border: 0px; font-size: 16px; margin: 0px 0px 5px; padding: 0px; text-size-adjust: none; vertical-align: baseline;">हाइलाइट्स:</h3><ul style="-webkit-tap-highlight-color: transparent; border: 0px; list-style: none; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><li style="-webkit-tap-highlight-color: transparent; border: 0px; color: #6e6e6e; font-size: 1.4rem; line-height: 2.2rem; list-style: none; margin: 0px 0px 10px; padding: 0px 0px 0px 15px; position: relative; text-size-adjust: none; vertical-align: baseline;">Faceless Income Tax Appeals की व्यवस्था शुरू</li><li style="-webkit-tap-highlight-color: transparent; border: 0px; color: #6e6e6e; font-size: 1.4rem; line-height: 2.2rem; list-style: none; margin: 0px 0px 10px; padding: 0px 0px 0px 15px; position: relative; text-size-adjust: none; vertical-align: baseline;">वित्त मंत्रालय ने इसे लागू करने के लिए जारी की अधिसूचना</li><li style="-webkit-tap-highlight-color: transparent; border: 0px; color: #6e6e6e; font-size: 1.4rem; line-height: 2.2rem; list-style: none; margin: 0px; padding: 0px 0px 0px 15px; position: relative; text-size-adjust: none; vertical-align: baseline;">इस सुविधा से भ्रष्टाचार और मनमानी को रोकने में मदद मिलेगी</li></ul></div><div style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><div adinviewcount="0" class="ad1 osv" data-id="div-gpt-ad-7625525418682-411" data-name="/7176/Navbharattimes/NBT_ROS/NBT_ROS_OUTSTREAM_1x1" data-videoarticle="1" style="-webkit-tap-highlight-color: transparent; background: transparent; border: 0px; margin: auto; min-width: 300px; padding: 0px; position: relative; text-align: center; text-size-adjust: none; vertical-align: baseline; z-index: 10;"><div data-google-query-id="CJSmn_OCiewCFV3GcwEdAvwH6w" id="div-gpt-ad-7625525418682-411" style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><div id="google_ads_iframe_/7176/Navbharattimes/NBT_ROS/NBT_ROS_OUTSTREAM_1x1_0__container__" style="-webkit-tap-highlight-color: transparent; border: 0pt none; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><iframe data-google-container-id="6" data-load-complete="true" frameborder="0" height="1" id="google_ads_iframe_/7176/Navbharattimes/NBT_ROS/NBT_ROS_OUTSTREAM_1x1_0" marginheight="0" marginwidth="0" name="google_ads_iframe_/7176/Navbharattimes/NBT_ROS/NBT_ROS_OUTSTREAM_1x1_0" scrolling="no" style="-webkit-tap-highlight-color: transparent; border-style: initial; border-width: 0px; clear: both; display: block; margin: auto; overflow: hidden; padding: 0px; text-size-adjust: none; vertical-align: bottom; width: 656.594px;" title="3rd party ad content" width="1"></iframe></div></div></div></div><ad id="mrec1" type="dfp"></ad><strong style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;">नई दिल्ली</strong><br />सरकार ने ईमानदार टैक्सपेयर्स का सम्मान करने और टैक्स कलेक्शन में पारदर्शिता को बढ़ावा देने के लिए Faceless Income Tax Appeals की व्यवस्था आज से शुरू कर दी है। इस व्यवस्था को लागू करने के लिए शुक्रवार को एक अधिसूचना जारी की गई। वित्त मंत्रालय ने एक बयान में कहा कि इस सुविधा से भ्रष्टाचार और मनमानी को रोकने में मदद मिलेगी।<br /><br />इसके तहत टैक्सपेयर्स की अगर कोई शिकायत है तो उसकी अपील को इसके लिए रैंडम तरीके से चुने गए अफसर के पास भेजा जाएगा। यह अफसर कौन है, इसके बारे में किसी को जानकारी नहीं होगी। यही नहीं, यह अफसर किसी भी शहर का हो सकता है। टैक्सपेयर को इसके लिए किसी भी दफ्तर के चक्कर लगाने की जरूरत नहीं होगी।<br /><br /><strong style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;"><a data-tn="tn" href="https://navbharattimes.indiatimes.com/business/business-news/vodafone-wins-international-arbitration-against-india-in-2-billion-tax-dispute-case/articleshow/78316397.cms" style="color: #1f81db; text-decoration-line: none;">भारत सरकार को तगड़ा झटका, 2 अरब डॉलर के टैक्स विवाद में वोडाफोन की जीत</a></strong><br /><br /><strong style="-webkit-tap-highlight-color: transparent; border: 0px; margin: 0px; padding: 0px; text-size-adjust: none; vertical-align: baseline;">पहली शुरू हो चुकी हैं दो सुविधाएं<br /></strong>प्रधानमंत्री नरेंद्र मोदी ने 13 अगस्त को ट्रांसपैरेंट टैक्सेशन प्रोग्राम ('पारदर्शी कराधान - ईमानदार का सम्मान') की शुरुआत की थी। इसके तहत 3 सुविधाओं का ऐलान किया गया, जो फेसलेस असेसमेंट, फेसलेस अपील और टैक्सपेयर्स चार्टर हैं। फेसलेस असेसमेंट और टैक्सपेयर्स चार्टर उसी दिन से लागू हो गए जबकि फेसलेस अपील को आज पंडित दीनदयाल उपाध्याय की जयंती से लागू किया गया।<br /><br />हालांकि वित्त मंत्रालय ने कहा है कि गंभीर अपराध, बड़ी टैक्स चोरी, अंतरराष्ट्रीय टैक्स के मामले या देश के लिहाज से संवेदनशील मसले आदि मामलों में इस सुविधा का लाभ नहीं मिलेगा। मोदी ने कहा था कि देश का ईमानदार टैक्सपेयर राष्ट्रनिर्माण में बहुत बड़ी भूमिका निभाता है। जब देश के ईमानदार टैक्सपेयर का जीवन आसान बनता है, वो आगे बढ़ता है, तो देश का भी विकास होता है, देश भी आगे बढ़ता है।</article></div>

ईमानदार टैक्सपेयर्स को सरकार का तोहफा, लागू हुई फेसलेस अपील की सुविधा

ईमानदार टैक्सपेयर्स का सम्मान करने और टैक्स कलेक्शन में पारदर्शिता को बढ़ावा देने के लिए आज से Faceless Income Tax Appeals की व्यवस्था शुर...

Cost Inflation Index (FY 2020-21) notified by CBDT

<p><img alt="CBDT Notified "301" as Cost Inflation Index (CII) for the F.Y 2020-21 | A2Z  Taxcorp LLP" src="https://i1.wp.com/www.a2ztaxcorp.com/wp-content/uploads/2020/06/1512107675.jpg" /></p><p><br /></p><p><br /></p><p><br /></p><p> <span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;">CBDT has notified the ‘</span><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; text-align: justify; vertical-align: baseline;">Cost Inflation Index (CII)’</span><span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;"> </span><span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;">for FY 2020-21/ AY 2021-22 at</span><span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;"> </span><span style="border: 0px; font: inherit; margin: 0px; padding: 0px; text-align: justify; text-decoration-line: underline; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">301</span></span><span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;"> </span><span style="background-color: white; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; text-align: justify;">for determining ‘long term capital gains (LTCG)’ under Income Tax.</span></p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">It may be noted that the Finance Act 2017 has amended ‘cost inflation index’ provisions, i.e. relating to indexation for determining long term capital gains (LTCG). The Base year has been shifted from FY 1981-82 to FY 2001-02. The assessees can now exercise option to use Fair Market Value (FMV)/ Indexed Cost of Acquisition for arriving at the figure of LTCG, regarding assets acquired prior to 1 Apr. 2001</p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><br /></p><header style="border: 0px; float: left; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px; padding: 0px; position: relative; vertical-align: baseline; width: 748.969px;"><h1 class="title single-title entry-title" style="border: 0px; clear: both; color: #0066bf; float: left; font-family: "Bookman Old Style", serif; font-size: 22px; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: 1.4; margin: 0px 0px 10px; padding: 0px; vertical-align: baseline; width: 748.969px;">Cost Inflation Index (FY 2020-21) notified by CBDT</h1><div class="post-info" style="border: 0px; clear: both; color: #aaaaaa; float: left; font: inherit; margin: 0px 0px 20px; padding: 0px; vertical-align: baseline; width: 748.969px;"><span class="thetime date updated" style="border: 0px; font: inherit; margin: 0px 20px 0px 0px; padding: 0px; vertical-align: baseline;"><i class="fa fa-calendar" style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></i><span style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Jun 12, 2020</span></span> <span class="thecategory" style="border: 0px; font: inherit; margin: 0px 20px 0px 0px; padding: 0px; vertical-align: baseline;"><i class="fa fa-tags" style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></i><a href="https://www.caclub.in/category/income-tax/" style="border: 0px; color: #777777; font: inherit; margin: 0px; padding: 0px; text-decoration-line: none; transition: all 0.25s linear 0s; vertical-align: baseline;" title="View all posts in Income Tax">Income Tax</a></span> <span class="theauthor" style="border: 0px; font: inherit; margin: 0px 20px 0px 0px; padding: 0px; vertical-align: baseline;"><i class="fa fa-user" style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></i><span style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><a href="https://www.caclub.in/author/kewal-garg/" rel="author" style="border: 0px; color: #777777; font: inherit; margin: 0px; padding: 0px; text-decoration-line: none; transition: all 0.25s linear 0s; vertical-align: baseline;" title="Posts by Kewal Garg">Kewal Garg</a></span></span></div></header><div class="post-single-content box mark-links entry-content" style="border: 0px; clear: both; float: left; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; width: 748.969px;"><div class="thecontent" style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">CBDT has notified the ‘<span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index (CII)’</span> for FY 2020-21/ AY 2021-22 at <span style="border: 0px; font: inherit; margin: 0px; padding: 0px; text-decoration-line: underline; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">301</span></span> for determining ‘long term capital gains (LTCG)’ under Income Tax.</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">It may be noted that the Finance Act 2017 has amended ‘cost inflation index’ provisions, i.e. relating to indexation for determining long term capital gains (LTCG). The Base year has been shifted from FY 1981-82 to FY 2001-02. The assessees can now exercise option to use Fair Market Value (FMV)/ Indexed Cost of Acquisition for arriving at the figure of LTCG, regarding assets acquired prior to 1 Apr. 2001.</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index Chart/ Table with base Year 2001-02 (Applicable for FY 2001-02 to FY 2020-21)</span></p><table border="1" style="border-collapse: collapse; border-spacing: 0px; border: 3px solid rgb(228, 228, 228); font: inherit; margin: 0px 0px 10px; padding: 0px; text-align: justify; vertical-align: baseline; width: 748px;"><tbody style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><tr style="background: rgb(153, 204, 255); border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">SI. No.</span></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Financial Year (FY)</span></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index (CII)</span></td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">1</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2001-02</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">100</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">2</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2002-03</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">105</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">3</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2003-04</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">109</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">4</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2004-05</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">113</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">5</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2005-06</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">117</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">6</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2006-07</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">122</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">7</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2007-08</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">129</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">8</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2008-09</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">137</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">9</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2009-10</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">148</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">10</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2010-11</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">167</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">11</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2011-12</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">184</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">12</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2012-13</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">200</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">13</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2013-14</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">220</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">14</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2014-15</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">240</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">15</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2015-16</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">254</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">16</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2016-17</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">264</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">17</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2017-18</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">272</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">18</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2018-19</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">280</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">19</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2019-20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">289</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2020-21</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">301</td></tr></tbody></table><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><a href="https://files.caclub.in/wp-content/uploads/cbdt-income-tax-notification-32-2020-dt-12-june-2020-cost-inflation-index-cii-fy-2020-21-notified.pdf" style="border: 0px; color: #0072bf; font: inherit; margin: 0px; padding: 0px; text-decoration-line: none; transition: all 0.25s linear 0s; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">New Cost Inflation Index for FY 2020-21/ AY 2021-22 at 301: CBDT Notification No. 32/2020 dt. 12 June 2020</span></a></p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">S.O.1879(E)</span>.- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">2. In the said notification, in the Table, after serial number 19, the following serial number and entries relating thereto, shall be inserted, namely:-</p><table style="border-collapse: collapse; border-spacing: 0px; border: 3px solid rgb(228, 228, 228); font: inherit; height: auto; margin: 0px 0px 10px; padding: 0px; text-align: justify; vertical-align: baseline; width: auto;"><tbody style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><tr style="background: rgb(153, 204, 255); border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Sl. No.</span></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Financial Year</span></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index</span></td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(1)</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(2)</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(3)</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">“20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">2020-21</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">301″</td></tr></tbody></table><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">3. This notification shall come into force with effect from 1st day of April, 2021 and shall accordingly apply to the assessment year 2021-22 and subsequent years.</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">Note:- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1790(E), dated the 5th June, 2017 and last amended by the notification number S.O.3266 (E), dated the 12th September,2019.</p><h2 style="border: 0px; font-family: "Bookman Old Style", serif; font-size: 24px; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: 1.4; margin: 0px 0px 10px; padding: 0px; text-align: justify; vertical-align: baseline;">Relevance of Cost Inflation Index (CII)?</h2><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the ‘cost of acquisition/ improvement’ from the ‘sale consideration’. However, in the case of transfer of long term capital asset, capital gains are determined by deducting ‘indexed cost of acquisition/ improvement’ from the ‘sale consideration’.</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">‘Cost Inflation Index’ basically means the index notified by the Central Govt. with reference to average rise in the ‘consumer price index’, during the year immediately preceding the relevant previous year. However, ‘indexed cost of acquisition’ is arrived at by multiplying the ‘cost of acquisition’ with the change in ‘cost inflation index’ since the year of acquisition or 1 April, 2001 whichever is later.</p><p style="border: 0px; font: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">Accordingly, the ‘<span style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index’</span> for FY 2020-21 (new CII) is useful for working out the ‘long term capital gains (LTCG)’ during FY 2020-21, from transfer of long term capital asset, i.e. ‘sale consideration’ minus ‘indexed cost of acquisition/ improvement’.</p></div></div>

Cost Inflation Index (FY 2020-21) notified by CBDT

CBDT has notified the ‘ Cost Inflation Index (CII)’ for FY 2020-21/ AY 2021-22 at 301 for determining ‘long term capital gains (LTCG...

COST INFLATION (FY 2020-21) notified by CBDT

<p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">CBDT has notified the ‘<strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index (CII)’</strong> for FY 2020-21/ AY 2021-22 at <span style="border: 0px; font: inherit; margin: 0px; padding: 0px; text-decoration-line: underline; vertical-align: baseline;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">301</strong></span> for determining ‘long term capital gains (LTCG)’ under Income Tax.</p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index Chart/ Table with base Year 2001-02 (Applicable for FY 2001-02 to FY 2020-21)</strong></p><table border="1" style="background-color: white; border-collapse: collapse; border-spacing: 0px; border: 3px solid rgb(228, 228, 228); color: black; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 10px; padding: 0px; text-align: justify; vertical-align: baseline; width: 748px;"><tbody style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><tr style="background: rgb(153, 204, 255); border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">SI. No.</strong></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Financial Year (FY)</strong></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index (CII)</strong></td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">1</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2001-02</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">100</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">2</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2002-03</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">105</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">3</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2003-04</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">109</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">4</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2004-05</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">113</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">5</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2005-06</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">117</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">6</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2006-07</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">122</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">7</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2007-08</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">129</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">8</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2008-09</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">137</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">9</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2009-10</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">148</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">10</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2010-11</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">167</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">11</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2011-12</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">184</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">12</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2012-13</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">200</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">13</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2013-14</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">220</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">14</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2014-15</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">240</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">15</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2015-16</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">254</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">16</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2016-17</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">264</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">17</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2017-18</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">272</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">18</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2018-19</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">280</td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">19</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2019-20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">289</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 128px;">20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 278px;">2020-21</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; text-align: center; vertical-align: baseline; width: 300px;">301</td></tr></tbody></table><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><a href="https://www.caclub.in/wp-content/uploads/cbdt-income-tax-notification-32-2020-dt-12-june-2020-cost-inflation-index-cii-fy-2020-21-notified.pdf" style="border: 0px; color: #0072bf; font: inherit; margin: 0px; padding: 0px; text-decoration-line: none; transition: all 0.25s linear 0s; vertical-align: baseline;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">New Cost Inflation Index for FY 2020-21/ AY 2021-22 at 301: CBDT Notification No. 32/2020 dt. 12 June 2020</strong></a></p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">S.O.1879(E)</strong>.- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-</p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">2. In the said notification, in the Table, after serial number 19, the following serial number and entries relating thereto, shall be inserted, namely:-</p><table style="background-color: white; border-collapse: collapse; border-spacing: 0px; border: 3px solid rgb(228, 228, 228); color: black; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; height: auto; line-height: inherit; margin: 0px 0px 10px; padding: 0px; text-align: justify; vertical-align: baseline; width: auto;"><tbody style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><tr style="background: rgb(153, 204, 255); border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Sl. No.</strong></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Financial Year</strong></td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;"><strong style="border: 0px; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Cost Inflation Index</strong></td></tr><tr style="background-color: honeydew; border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(1)</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(2)</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">(3)</td></tr><tr style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">“20</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">2020-21</td><td style="border: 3px solid rgb(204, 204, 204); font: inherit; margin: 0px; padding: 5px; vertical-align: baseline; width: auto;">301″</td></tr></tbody></table><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">3. This notification shall come into force with effect from 1st day of April, 2021 and shall accordingly apply to the assessment year 2021-22 and subsequent years.</p><p style="background-color: white; border: 0px; font-family: "MS Sans Serif", Geneva, sans-serif; font-size: 16px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px 0px 20px; padding: 0px; text-align: justify; vertical-align: baseline;">Note:- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1790(E), dated the 5th June, 2017 and last amended by the notification number S.O.3266 (E), dated the 12th September,2019.</p>

COST INFLATION (FY 2020-21) notified by CBDT

CBDT has notified the ‘ Cost Inflation Index (CII)’ for FY 2020-21/ AY 2021-22 at 301 for determining ‘long term capital gains (LTCG)’ un...

ITR/ TAR Due Date Extended (FY 2019-20/ AY 2019-20)

<div class="separator"><p style="margin-left: 1em; margin-right: 1em; margin-top: 1em;"><br /></p><p style="margin-left: 1em; margin-right: 1em; margin-top: 1em;"><img alt="Income Tax Returns (ITR) FY 2020-2021 | HDFC Life" 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3uh7LYg1EeZWW8Vs9sLSgxlYiuhJKE8NabDtpF/N5S6gAsa7kcj+ILSMO+iUJ/SjRUk0WizqGAIP9DujVulEKKnIMPeA7F1iaUoePkYJnGYymtKa+Uego6iU6lrWGZllOJfTwdvlMWu4wFOnBVnZ6VPpHdom5I/KBLSg6zC/dcFfpEztwFCBTrutRwzpaMP8RaEkc8h5wo6sg0YEGH06yiVMZFGjGnLZGT7IsxSDkw0PyjKnFyWH2NSEknn1FaTpa7C3MwVJvFKiskHhCwy8J7QgqVazUBQByEVstFjCY+SZJminUTEOwpX20ha+OVUUI4kZ0gqzzWBzenM/IQ1khW1nDxWvzhjjr9/0FqWj2/UQyrcw+IxYrmtpcZmtCNY7Fz481Mp+FKGN2ewmUwUrhLMuQNctKx0abIPL4BstrnHC5LDbgaryb5QQJQxE7aAUgW2vWaq8D6kD5GI5jsZuWlddm6kaTwm/0M9JtL2HMuUNY7DCIGfZEbPDm1EThsKaaI7UwFLbPOCOuEQpkOIt6uOcDb40jgatWMNoGypjQwyqdYjHPXcIlU12RlBHEEYdTGiojsygYjNn4xJxwycIr/TGUPs9aaOv0+cWAowhD0xB+zNUfEme7tCFXf6b9g6vOhBYO4PEeRIgiB7AewPGCUjylvnZtrgaLZkABeXUHOtK674lS57JM0VPIQxs94SlloHYd0ZHlAdptdlbTXeuvpHsKrI6I522RgzrnqeN9yvdJris8lVKS1xs2RAFQAO0fYeMR2CXQRl5zusnAVOFBTPecyc/DyiWXpHnvilynJpP7fg1ekg4wWSWMiWxycbBRt9hDmXci72PiPkIz6OksuWYj7Low5EUZWLGt0Sx8NeZJivdNrBhlLNQYQhowGQwtQBiN4amfGLD+HTSy2ha6mLeDgtEMuSjzAr4s8hhIBrrtFM9PGBrDaccsNt0PMRzMmEGoNCMxzGYitWtM91kdLdbDPpCGlSGeXiUrtPaoNCSAOWfCKRdnS+crgu5emVKqAfCgj0W8J3WWZ3UgYpZNToCRmCedRHjdplsHIZBuqBQHjlG06q8JqKX6FSMm+Weg2bptLNMUkjxPyAg0dKbOwylsDTJqtVa0BAzy12bjHmskJuanMawzssuUfv/AOzjvMH4kvU5QiXKwWiy1r1TtxIUb86+A84stltCEA4UXm2M13AJlXmIod39UCOyx5zJarSoO6umflFvuuZoFRAakZB5jVOyjdndExk3yRKKRYbLNJUHPbrltMEhoDV2zLEVrvqQaDLLIbIwzuMFpeReVgzBkyeXIwFOXHLK/Evy0gh2JmCh2RG0urFhqNaaU4xOnKIUsMrFvDMcRU10J2EiIJctyagGLPOlE97ThElyWZQ7GmSgYa61Op/vfCPA3LCuwhCei86Zm2Fd2I0PkAY3L6HOpriU8AxHuIvKIWNBBH2Lex8IP5StgfNzR59aLjK69Wp3MWBPInWNJZmUVMqo3oSYv1ou1XXCaEHYwy/oYrFvumdZiXl4imuWZA3EbRxivb0ujdLYfX1OrZi6XaFKnC1GGYByPgRthxdGOZNQuSSi1JOzcPX0iuWWzdZMaeRRNQN7fSLRd64EqdTRm30+FOZOcKp3l9grmksLkKlTKzWfYK05LkPWsEXZJIq7HM7N0RSZeQUa7fpBbuFFIuxwt2VZPsjpnjoLAqTaRKJ8DqydpOykZhjWKOamO2OBgPwAc4002mrKIq7XfaH79ob92gjY6Nqe/MdubExovqI9ir4Pqx9PvSUvenKPEQDN6SWYfGW5An2iCTcEhfgHjBJs0lNiwPjN8I7w4Llkf/8AVqe5KmH90j3jlr/nnu2c+JAiUWyUMqekTJbJfLnEOyfoSo1i2ZedsPwKviTC6/GntJJmMCuJMgDriyi0NhO0Qm6UAfZ2pTvIfJgYr2WWNPL2H16E1hCSwnsDx5wQpgSwnsCCFMeftf1v3NCPCLNZbullFYqKkAmJptnlopagooJPICscWa1hZaimij2iG12pZitLKmjChoaGNyLWhY9DPak5FUkdos51Zq+ZqfY+cGLEouhweyQRvOR8QByisX70lNmmGX1RfDkWB7IbcQASNmZyzjIn091j8pc8SEe5ebmbAWalcqD3PyhqLe33R6x51d36QrOVAdHU7aUcV9IbSumtkP8AnMOav8hG10lca6lF89zPublNvsXA25ty/wB+MB3naVeVMSYBhKsGprSmZHGEB6VWQnKdX9yZx/DwMbe85FoRpaNOfECCJcok0oK6kb6RYeli1F5KX0avhOsaSSRU9jEAuI1oKAEipFMqnSLPMu+c2kpvEYf5oT/q2Ss9JSKyEnOY7K7qAKnCqgKpypnU5xfbZOCCpbCDpnmeCjUxSXQQnLVksS6iUVgr9os01LHOVxSgLAVrVciwyOW01jzAPhY0YryzHy9o9ZvS9LLMlTJYtC9YVYBVIEwMBUAKc8VRpHldpJJ+F+IyJHLI+kWLK1FJIGueptk8mY1Mpg5Go9KQdZy1dU/2/wB7DCqWo2yz6/MQbZ1l17rekIY9D6wYgR25Y5mo0FcqGuq5cIu1gZsPamucgKKOrQ61OJqKfKKTdOowSprHcrHYCfhXefSLndtlmjMSFl0AGKaatpn3zn5QUAZjL7XLSikhTQHga7RXOGFglBu2TkdAMq8SY8/6cTZZYBetaZgUmagmGXqeyRTDpy1Eb6I9LuoAlTnV02EGjCuwgw7xEnhiXW3HKPTOpQHuj3MdtISlKZHPLKpgOy3rJmAFJg8cj5GDywoNsN27Cnlcia97E5AEmZgIrky1B4E7IQJbJ9nmhpvaWlGAHwnaMtcqxdcY3E+UVHpNIaeypKmUZKhyBiGdKLUakUJ8YRdHbUuR1MsvS+CzXFesuY7IjBslYUOqndyMOse6PPrBcHVqGDMk5c1cEqCfxK1RTlD6x366ClplMm+YgLyjxqM18Y6ubx9SOnBZ+ksrDbEYPCBJF4y3FUmI3JgYke1U3edIcKwxdeVnVDiFApzO6sBy0xEMcl1FdT+Ixl+XmKBVXGa1NM6btYWreIPfLL+ZSB5xQunFSwi1XBtZY6M6gog8Y1JQ6mB0tQK1Skw7lIr6mMe8gBmjg/dYFa+JygM53YWPQZqgjClIEs15SyK9pRxFR5rUQdJmo47LK35SDD1FNC3lGhG6xyyEaVjXa3RGGdkrRvMHRY4a8W2AQMkrhEos5gdUg9ERLel9T1epksybChz8RECdJZW2XNXmh9xFoSRwjYso3CGq6xLCAddbYhs97S20WYf3W+cM+uJXsyHY73IVfr6QWMIOUZ10F48u4Lpj2Ewv1FcpMIRhqPh8DtjV8W6W8hsLq2ajI11YD5xP18qcxAwHCxRsQBwsDQ4hCvpZa8FlmAkihSlBRcnXSmUNepwecCvpU1jJlh7g8YnEJbkvaV1Cl5qA9rvOoPeO8wT+uZGyYG4IGf8AkBjzllcnN4T5NWMlhbl2kUwKafCPaNleAjmQpwLRichuI04iFt823qkJLYSclA7xY6UB47THpK4pQXsZMpNyGBXj5R5x+kiyoJyNhwsVqWBAJapArXKoA56a7LOlz25j27UB+QGvy9oSdL7nEqWlJgLksG6zMvUVHDYYXKyMlshsYST3ZQ3V9SzfvKaeZyiaQPxJ/CvDhxgZpRHwEflPpujuQ5B70wfTL+scjmOrI/40HIKNhOwfh9RFsuqQpWjGdNAyogwy+yQO+1QMydmgimWR+M48jTYf6xZ7ooW/4cM2ec5nO2pqMl0wjPfEo7JJfolAhZaAOaivWiYwGhYlTgXjoRCOw320maXNZgWqgjaoyBGLTQRaOklnmdXmyBTnSWiy5QpvIyc8Kk8Ist0nFZ5TUoSq5HI7gxG8gA+MNihUpHjqTbPNmtMmGYJpxsKsMOPMrXDnQZQHPm9rP/d/5DWPabXY5T5OisOK/OPGbSAjFakEEg50IIND+E8xTlC7FgOt5CbKxGmIcmWmoG3nDWTMcCuJ602tLG/aWyzEJbPMB1O0aoTt3isM7MVpoulO49dF2U4EfvGEschzZXdqYp1B+KZiGoB7lTpFlu1pYFS2PMnsKxGuQxzKU8jXdFXsioKGjHMaS2X4ie82mXtD+y2hFAJCilf2s0Oa7P8ADk67DRhSOimc8Cbpje8+VaFK0VWlqVocVRVgSTrWv9NwCsvTSeMnCzBuapHkaj0h30j6qa0qZNTFXGodw64gMOiyzkg0Az0biIKuWxWTUSJTU29WWH8U2OabezOUkluhbYekdiYHHJaS33pPZFeIl0XzQwJ+vijkCe7p8NFUMeZoM4uVvuqXaFCsqhAa4UoB44KU8DG7HdEmVpIlU3hTjoNtSTi5esRKEjozj6FekdLLRNAVWwrpVmp6KBWGFlvKaMzPbkij/uqYcXlcMmYCrIAdKqKMM8ira+Gh2gxWLXdLo7S/t0lcJKkYcJBBocv6wuUZrfIyMoPsWiydLCooQzfmyP8AKBEM7pJaWmAypKhdoLys+YJHyPGKsLmY/wD3ZfhjPtB9j6NMxytp8Ef/AMo7Xa9v2O0Vrf8Actr3p2cc6yArtZGUkV4An3jSW2xTKZsp1AYN7rX3iv3hdP2aWzNeD4qHCmIjEdgIJ0irzbymE1LluJAzjp2yhtJf4OhVGe6f+T1RJEptGRv3lr5g4j4x1OuxyDQ8aOoI/iUVHrHnFivSYSB1vV7jQ08cIJi89HEmscT20TFHwIyGvOnagq5xn2BnCUN8ilLxlnv2XMGlVLDTaO2PaGUm+ZKocInIwBKiYXKE7qmoiwAEEGhO+jHPmDE6ygdVWvKGKlrh/wBgHcnyv7lQ+2dZhf7OSfi6hwSfAUJhXaL1WU9epmAV0mLQ+BP1i8226UYHCFDcVBB57QOMU9L/AJanBNWdIbh1lP4GJBHhFe2prlj6rFLhE56Vy1TFKmTMX+m4JHgTWkGWTplLKgutG2ilfWALXeVmwBwZc+pAIMgIwrtx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/></p><p style="margin-left: 1em; margin-right: 1em; margin-top: 1em;"><a data-saferedirecturl="https://www.google.com/url?q=http://feedproxy.google.com/~r/caclub/updates/~3/-hiDl2woOPc/?utm_source%3Dfeedburner%26utm_medium%3Demail&source=gmail&ust=1590401520626000&usg=AFQjCNFhUJx3WSWRYz9Gd1ETCINrFCijMA" href="http://feedproxy.google.com/~r/caclub/updates/~3/-hiDl2woOPc/?utm_source=feedburner&utm_medium=email" name="m_5059649270253437638_1" style="color: #1155cc; font-family: Georgia, "Times New Roman", serif; font-size: 20px;" target="_blank">ITR/ TAR Due Date Exte</a><a data-saferedirecturl="https://www.google.com/url?q=http://feedproxy.google.com/~r/caclub/updates/~3/-hiDl2woOPc/?utm_source%3Dfeedburner%26utm_medium%3Demail&source=gmail&ust=1590401520626000&usg=AFQjCNFhUJx3WSWRYz9Gd1ETCINrFCijMA" href="http://feedproxy.google.com/~r/caclub/updates/~3/-hiDl2woOPc/?utm_source=feedburner&utm_medium=email" name="m_5059649270253437638_1" style="color: #1155cc; font-family: Georgia, "Times New Roman", serif; font-size: 20px;" target="_blank">nded (FY 2019-20/ AY 2019-20)</a></p></div><table id="m_5059649270253437638itemcontentlist" style="background-color: white; color: #336666; font-family: Georgia, Helvetica, Arial, sans-serif; font-size: 16px;"><tbody><tr><td style="font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; line-height: 1.4em; margin: 0px;"><p style="color: #555555; font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 9px 0px 3px;">Posted: 13 May 2020 07:44 PM PDT</p><div style="font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 0px;">Due dates for filing of all Income Tax Return (ITR) in respect of FY 2019-20/ AY 2020-21 have been extended from 31st July/ 31st October 2020 to 30th November 2020, i.e. including for Tax Audit cases. However, deadline for Tax Audit Report (TAR) has been extended from 30th September 2020 to 31st October 2020.<img alt="" class="CToWUd" height="1" src="https://blogger.googleusercontent.com/img/proxy/AVvXsEjBX5SEtiG5beYbflyziO90K5NIznTMTkiJHppVmh6QbQ__1EtVIaca_22h-oqE_-pCNRRbgHeN_zdc6NJpHIZLyIG0CQ2l5azKsT43gSlqRkumWMCjWbyyPt9lVDlZ2ywtf0xqFREx9YDE4P9Gf7gH3nBXOomXEVAKX4vnI1UzIecZR5lEIy5_wP3sZh4T93HGdNETqgNNcRCq-BrskCEwQorQ=s0-d-e1-ft&utm_medium=email" width="1" /></div></td></tr><tr><td style="font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; line-height: 1.4em; margin: 0px;"><p style="margin: 1em 0px 3px;"><a data-saferedirecturl="https://www.google.com/url?q=http://feedproxy.google.com/~r/caclub/updates/~3/SWwJ4j21-6k/?utm_source%3Dfeedburner%26utm_medium%3Demail&source=gmail&ust=1590401520626000&usg=AFQjCNFJo97egCA-F_KDWI2nLcKybIV7kg" href="http://feedproxy.google.com/~r/caclub/updates/~3/SWwJ4j21-6k/?utm_source=feedburner&utm_medium=email" name="m_5059649270253437638_2" style="color: #1155cc; font-family: Georgia, "Times New Roman", serif; font-size: 20px;" target="_blank">Vivad se Vishwas Scheme extended upto 31 Dec. 2020</a></p><p style="color: #555555; font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 9px 0px 3px;">Posted: 13 May 2020 07:28 PM PDT</p><div style="font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 0px;">The period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December,2020, as per Special Package of Rs 20 lakh crores (COVID-19) announced by Govt. of India on 13th May 2020.<img alt="" class="CToWUd" height="1" src="https://blogger.googleusercontent.com/img/proxy/AVvXsEic9CeOiwasSLX2Ui08TGpuzac415IAL00n2n4EAuKWLS1RZTDIHHNurWQ7A0ku7y0uEAFZvYl21wHQ7rBxAnN_0JRLpvJy62kIDB4wT1eOg87CK5vJqY4fV3XooIYzo6iDZcKvy6wiArznOUbBATT7AM4TdZwzGnac1j00ggeBOjhGPSIjh4c8OV7rrgyGXrum1zdOaCmTF2giz05-JWjqtgRA=s0-d-e1-ft&utm_medium=email" width="1" /></div></td></tr><tr><td style="font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; line-height: 1.4em; margin: 0px;"><p style="margin: 1em 0px 3px;"><a data-saferedirecturl="https://www.google.com/url?q=http://feedproxy.google.com/~r/caclub/updates/~3/bVL-H89tEAU/?utm_source%3Dfeedburner%26utm_medium%3Demail&source=gmail&ust=1590401520626000&usg=AFQjCNHYWv0Dz3l2NG6mXUzagNpoyiQBwQ" href="http://feedproxy.google.com/~r/caclub/updates/~3/bVL-H89tEAU/?utm_source=feedburner&utm_medium=email" name="m_5059649270253437638_3" style="color: #1155cc; font-family: Georgia, "Times New Roman", serif; font-size: 20px;" target="_blank">Highlights of Special GOI Package of Rs 20 lakh crores for Atmanirbhar Bharat (COVID-19)</a></p><p style="color: #555555; font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 9px 0px 3px;">Posted: 13 May 2020 08:06 AM PDT</p><div style="font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 0px;">Key Highlights of the Special economic and comprehensive package of Rs 20 lakh crores Announced by the Govt. of India, for relief and credit support related to businesses, especially MSMEs to support Indian Economy, Atmanirbhar Bharat and to fight against COVID-19.<img alt="" class="CToWUd" height="1" src="https://blogger.googleusercontent.com/img/proxy/AVvXsEhbn1Sj9xHdBXjrBnVRew1zoFN5xL_RfWdqtsWZ6kh_fNws7wEw-amXrNvTTnM7VQMR1vCETTBl6uxeVzgbtaEYMHGCU2C-sepqmeCOMftFXhhZNe0RqdSWL45dDT6MLVHd-YHzSuX1Sjy_rwCC1EnAhOkjDhf671YVEe13J3WwkdjgIoXlIGSs31NMAyNX7jJFyMiei6kg8qGHgpDQLTfqjb-e=s0-d-e1-ft&utm_medium=email" width="1" /></div></td></tr><tr><td style="font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; line-height: 1.4em; margin: 0px;"><p style="margin: 1em 0px 3px;"><a data-saferedirecturl="https://www.google.com/url?q=http://feedproxy.google.com/~r/caclub/updates/~3/FAurSIp7rjc/?utm_source%3Dfeedburner%26utm_medium%3Demail&source=gmail&ust=1590401520626000&usg=AFQjCNE4iu6qzf4gQC-O8h8jEzZOcPmn-Q" href="http://feedproxy.google.com/~r/caclub/updates/~3/FAurSIp7rjc/?utm_source=feedburner&utm_medium=email" name="m_5059649270253437638_4" style="color: #1155cc; font-family: Georgia, "Times New Roman", serif; font-size: 20px;" target="_blank">ICAI’s Guidelines for Auditor’s Consideration (COVID-19)</a></p><p style="color: #555555; font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 9px 0px 3px;">Posted: 13 May 2020 05:48 AM PDT</p><div style="font-family: Georgia, Helvetica, Arial, sans-serif; line-height: 22.4px; margin: 0px;">ICAI has issued different Guidelines which prescribes key points/ questions for Auditor's Consideration, like Physical Inventory Verification, Going Concern, Financial Reporting & Auditing of Financial Statements for the Accounting Year ending 31st March 2020, for conducting audits during the COVID-19 phase.<img alt="" class="CToWUd" height="1" src="https://blogger.googleusercontent.com/img/proxy/AVvXsEifIkt-fpbCRoJSD908lDTLiWI_kLX5eZqWMoSeoHVfKELuURWyPukRRxqN-72vE1nMY_GhHcMWfGb0AM2Mj1JYWshcNSj1IgWHA0RbsPAEhsBmMaEGaeqi9tKnrdQx1Ns4zOsIY2CT2sgfhTi9udSvmUHNud4Wrc8C_slU5cLkJ6iTiMviEapcUUrPgkLNQGE6mMvRMkhXMoF8tA3WDVa4weA7=s0-d-e1-ft&utm_medium=email" width="1" /></div><div><br /></div></td></tr></tbody></table>

ITR/ TAR Due Date Extended (FY 2019-20/ AY 2019-20)

ITR/ TAR Due Date Exte nded (FY 2019-20/ AY 2019-20) Posted: 13 May 2020 07:44 PM PDT Due dates for filing of all Income Tax Return (ITR) in...

S K and Associates

What can be the reasons for refund failure?

OLD AND NEW TAX REGIME DETAILS IN FAQs.

HOW CAN VIEW PAID INCOME TAX ON WEBSITE

PAN AADHAAR NOT LINKED TDS DEDUCTED @ 20%

SECTION 234F