Blog – CA Jitesh Telisara Blog

TDS Rate Charts for the FY 2022-23

TDS Rate Charts for the FY 2022-23
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Senior Citizen – Exempt from Filing their ITR

To make tax compliances hassle-free and to provide relief to senior citizens, Government of India through Union budget 2021 came up with a new section which provides conditional relief from filing the Income Tax Return. As per Section 139 of Income Tax Act, every person who has a taxable income is required to file Income Tax Return.

Tax Compliance & Statutory Due dates for June 2022

Important due dates for the GST Returns in the Month of June 2022
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Additional Deduction of Interest on Housing Loan

Any taxpayer who has purchased or constructed a house with a borrowed capital is allowed a deduction with respect to interest paid on such loan under section 24(b) of the Income Tax Act.
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INCOME TAX RATES FOR A.Y 2023-24 (FY 2022-23)

1. Individual (Resident or Resident but not Ordinarily Resident or non-resident) other than Senior Citizen & for HUF:
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Tax Benefit from Electric Vehicle

Have you been thinking of buying an electric vehicle lately? In addition to compensate the rising fuel prices, purchasing an electric vehicle shall also give you a tax benefit under income tax.

Tax Compliance & Statutory Due dates for May 2022

Important due dates for the GST Returns in the Month of May 2022
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All About Updated Return

The Finance Bill 2022 has inserted a new section, Section 139(8A) in Income Tax Act. This new section provides for facilitating filing of ‘Updated Return’ by the taxpayers. This section has effect from 1^st April 2022.

INCOME TAX RATES FOR A.Y 2022-23

1. Individual (Resident or Resident but not Ordinarily Resident or non-resident) other than Senior Citizen & for HUF:

Statement of Donation (10BD)

On 26^th March, 2021 CBDT, through a notification, has notified (vide notification no 19/2021) that a Statement of Donation shall have to be filed with Income Tax Department, declaring the details of donations received during the year via Form 10BD and also a Certificate shall have to be issued via Form 10BE, to all such donors specified in Form 10BD. This notification has been brought up to ensure the transparency of the donations received and to bring into net all the bogus and fraudulent claims of donations.

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