Tag: Income Tax

Advantages of filing an Income Tax Return

October 25, 2021 By newtaxindia Off

Who should file Income Tax Return and what are the advantages of filing an Income Tax Return?Any person as described under to section 2(31) of Income tax act are required to file Income tax return if their total net income falls under the taxable category.…

All about Income from other sources

October 21, 2021 By newtaxindia Off

Incomes which does not fall under any of the other head will fall under the head of ‘Income from Other Sources’. INTEREST INCOMEInterest which are accumulates under the Saving Bank shall be mention under the head of ‘Income from Other Sources’ in tax return. Important…

Explanation on the issue of refund of wrongly paid taxes

October 19, 2021 By newtaxindia Off

The GST Policy Wing, Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, Government of India, vide Circular No. 162/18/2021-GST and F. No. CBIC-20001/8/2021-GST dated 25.09.2021, issued Clarification on the issues in respect of refund of tax wrongfully paid as specified…

All About Income from Salary

October 19, 2021 By newtaxindia Off

Income from salary is the remuneration which is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment. The amount received by an individual shall be considered as income from salary only if…

Main changes in ITR Forms for AY 2021-22 for ITR 6

October 13, 2021 By newtaxindia Off

Who is eligible to use this Return Form?This Return Form can be used by a company as per section 2(17) of the Income Tax Act, This form is filed by a company other than a company which is required to file return in Form ITR‐7.…

Tax Due Dates for October 2021

October 8, 2021 By newtaxindia Off

Subscribe to receive regular Reminders of all these obligations7 – OctoberTDS / TCS Payment – Payment of TCS Collected or TDS deducted/deductible from the payments made, during the month of September10 – OctoberGST Payment & TCS Return GSTR-8 – For SeptemberEvery e-commerce operator required to…

Taxability on Vlogging

October 1, 2021 By newtaxindia Off

The recent generation has been inclined towards a completely new area of professions where people follows their hobbies to make their own livelihood rather than going for conventional jobs. One such job is video blogging i.e. Vlogging. DISTINCTION OF INCOMES FROM VLOGGERYou-tubers are the niche…