Income Tax

  • TDS ON PAYMENT OF RENT MORE THAN RS. 50,000 PER MONTH BY INDIVIDUALs/HUFs

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  • Sec 139(1):-  As per Sec 139(1) of Income Tax Act  Every Company or Firm and other than Company or Firm if their gross total Income basic exemption limit have file Their income Tax Return before due.

    Due Dates:- Due Date is 30th September of assessment year whose  accounts required to get audited including partners of firm whose accounts are required to get audited and due date is 31st July

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  • Sec 139(9):-  Income Tax Return is treated defective return under section 139(9) of income tax act if Income Tax Return is filed without complete information or documents.

     Defective return should be rectified within 15 days of Receipt of Notice under section 139(9) otherwise return become void ab initio. 

    Reasons for Defective Returns: -

    1. Assessee fails to file his/her return in correct format or correct form

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  • Tax Treatment on Income from Investment in Shares: -

    Investment in Shares gives two

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