Income Tax – Semantic Taxgen Pvt Ltd

Category: Income Tax


An Introduction for Accreted Tax (Exit Tax) U/S 115TD :- Before the introduction of section 115TD,no provision in the Income Tax Act ensured that the corpus and asset base of the trust over some time is used for charitable purposes with a promise to be used for charitable purposes and is not used for any […]

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10 BD FORM- Statement & Certificate of Section 80G deduction

Legal provisions Relating to Sec. 80G and Section 35 :- section 80G of the Act has been amended by finance act and inserted a clause (viii) to the sub-section (5) of the said section to provide for the furnishing of a statement of donation received by a trust or an NGO or an institution approved […]

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ITR-1 (SAHAJ) – Applicable for Individual FOR AY 2022-23

This return is applicable to a resident (other than not ordinarily resident) persons with total income up to ₹ 50 Lakh from any of the following sources. INCOME FROM SALARY INCOME FROM HOUSE PROPERTY AGRICULTURE INCOME – UPTO ₹5,000 OTHER SOURCES – (INTEREST, FAMILY PENSION, DIVIDEND ETC.) Note: ITR-1 not filed by a person who: […]

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Applicability of Returns and Forms for Non-Resident Individual for AY 2022-2023

A non-resident person is a person who is not a resident of India for tax purposes. In order to determine whether a person is a non-resident or not, his residential status is required to be determined under section 6 of the Income-tax Act, 1961 as given below: A person shall be deemed to be a […]

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Major changes in ITR for FY 2022-23

Major changes in ITR-1 for FY 2022-23 1.Assesses have to provide information about income from foreign retirement funds while computing their net salary. Major changes in ITR-2 for FY 2022-23 1.Assesses have to provide information about income from foreign retirement funds while computing their net salary. 2.Separate disclosure is required for taxable interest and dividend […]

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ITR-4 (SUGAM) –Applicability forIndividual, HUF &Firm (Other than LLP) FOR AY 2022-23

This return is applicable for an individual or Hindu Undivided Family (HUF), Who is resident or other than not resident Firm (other than LLP) which is a resident whose total income is up to ₹ 50 lakh and income from business and profession which is calculated on an approximate basis (under section 44AD/44ADA/44AE) and income […]

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July 21, 2021

                                              PARTNERSHIP DEED                                     (As per PARTNERSHIP Act, 1932) THIS Agreement of PARTNERSHIP made at ____________________ […]

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Section 206AB of Income-Tax Act

July 05, 2021
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                                                                  FREQUENTLY ASKED QUESTIONS Ques 1: When will section 206AB made applicable? Ans 1: Section 206AB is an insertion into Income-tax Act, 1961 […]

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Corporate Social Responsibility | CSR-1 Filing


CSR-1 Filing As you all are well aware following forms of organization are allowed only to carry Non-charitable activity in India Whom to File CSR-1 1.A company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80 G of the Income Tax Act, 1961 […]

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