Taxation – V. D. Tiwari & Co.

Advance Tax

9 May 20209 May 2020Prerna SharmaLeave a comment

Advance tax is the income tax payable if your tax liability is more than INR 10,000 in a financial year in respect of the total income of the assessee Advance tax is paid as you earn income, advance tax is also known as pay as you earn Scheme. Both Advance tax and Tax Deducted at...

House Rent Allowance

9 May 20209 May 2020Kaushal TiwariLeave a comment

House Rent allowance also provides for tax exemptions. The sections help the salaried person/individuals, and the self-employed people and also professionals, to make their rent expenditures cheaper, and more pleasing. Salaries of the employees of both private and public sector companies are composed of some minor components as well. HRA or the House Rent...

ITR Processing & e-Verification

9 May 20209 May 2020Piyush PandeyLeave a comment

Once you complete the process of filing an Income Tax Return (ITR), it has to be verified by the department. The processing of ITR only starts after you complete the process of verification either by sending a signed copy of ITR-V to CPC (Central Processing Center) or verify it by E-verification. The return filed...

Online Payment of Taxes

9 May 20209 May 2020Prerna SharmaLeave a comment

E-Tax Payment facilitates the payment of direct taxes online. If TAN/ PAN is valid, you will be allowed to fill other details of challan like accounting head under which payment is made, name and address of TAN, and also select the bank through which payment is to be made, etc. To pay your Income Tax dues online, first, you have to log...

Relief & Changes in Due Dates

9 May 20209 May 2020Nitish RawatLeave a comment

INCOME TAX The due date of filing Income Tax Return for Financial Year 2018-19 has been extended from 31/03/2020 to 30/6/2020 The due date of Vivid se Vishwas scheme which is introduced to resolve pending tax disputes has been extended from 31/03/2020 to 30/06/2020 without the payment of 10% additional amount The filing date...

Survey, Search and Seizure

9 May 20209 May 2020Kaushal TiwariLeave a comment

SURVEY In general terms, “Survey” means : To look closely at or examine something or someone or A general view, examination or description of something or someone But here we are discussing survey in context to the inspection of books of accounts, cash, stock, other valuables, etc. at the business premises by the Income...