The article discusses FY 2020-21 AY 2021-22 – Income Tax Return ITR 7 Form Structure. ITR 7 Form Form ITR 7 is for use by assessee including Company, Firm, Association of Person (AOP), Body of Individual (BOI), Artificial Judicial Person and Local Authority who are required to furnish return under Section...
GST Registration & Return Filing Glossary CGST It's a tax levied by the federal government on intra-state transactions. SGST SGST (State Government Transactions Tax) is a tax levied by the state government on intra-state sales. IGST The tax levied by the national govt on interstate transactions. UGST The Union Territory Goods and Services Tax (UTGST) is a...
The article discusses FY 2020-21 AY 2021-22 – Income Tax Return ITR 6 Form Structure. ITR 6 Form Form ITR 6 is for the company as per section 2(17) of the Income Tax Act, this form is filed by a company other than a company that is required to file a...
Business Codes for ITR forms for FY 2020-21 / AY 2021-22 Income Tax Department notifies the business code for the purposes of selecting the relevant code for Income Tax Return ('ITR') filing for Financial Year ('FY') 2020-21 relevant to Assessment Year ('AY') 2021-22. Business Codes for Income Tax Return (ITR)...
The article discusses Income Tax Return ITR 5 for FY 2020-21 / AY 2021-22 form structure. ITR 5 Form Form ITR 5 is for the person being a Firm, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Person (AJP). Part‐ A – General Information The general information...
The article discusses Income Tax Return ITR 4 (Sugam) Form Structure applicable for FY 2020-21 / AY 2021-22. ITR 4 (SUGAM) Form Form ITR‐4 (Sugam) is a simplified return form to be used by an assessee, at his option, if he is eligible to declare profits and gains from business and...
The article discusses FY 2020-21 Structure of income tax return (ITR) 3 Form (AY 2021-22). What is the ITR 3 Form? The ITR 3 Form is the Income Tax Return Form for individual or a Hindu Undivided Family who is having income under the head ‘Profits or Gains of Business or...
The Structure of ITR 2 is as follows: FY 2020-21 AY 2021-22 – ITR 2 Structure, Income Tax Return Form 2 Income Tax Return - ITR 2 ITR 2 is for an Individuals or a Hindu Undivided Family (HUF) who is not eligible to file Form ITR‐1 and who is not...
What exactly is e-RUPI? It is a QR code or SMS string-based e-voucher that is given to the users of mobile phones. Customers of this smooth one-time payments system will be able to withdraw the vouchers from the service provider without needing a card, payment systems app, or online banking...
The article discusses the FY 2020-21 Structure of the ITR 1 Form (AY 2021-22). What is the ITR-1 Form? The ITR-1 Form, also called Sahaj is the Income Tax Return Form for salaried individuals (i.e. Salary / Pension / Family Pension and Interest Income). Part‐ A – General Information The general information part...
