One-time relaxation for verification of Income Tax Returns

One-time relaxation for verification of Income Tax Returns

On 13th July, 2020 Income Tax Department has issued circular providing relaxation for verification of Income Tax Returns. Whenever any ITR return is filled then in that case assessee is required to send ITR Form-V (Acknowledgement of ITR) so that department can process ITR filed by such assessee. In case if such acknowledgement is not…

Section 12AB of Income Tax Act, 1961

Section 12AB of Income Tax Act, 1961

Recently government has made major changes relating to Income tax provisions, specifically applicable to charitable trust registered. Union budget, 2020. Under the new tax regime, she proposed to amend Section 10(23C), Section 11, Section12A, Section12AA, Section 80G and proposed to insert a new Section 12AB. Here are the few Frequently asked Question for the Provision…