Income tax department made 7 new rules||new amendments

Income tax department made 7 new rules||new amendments



Income T. Mandatory Ahmedabad, Saturday The annual electricity bill of your house is Rs. 1 lakh and if your income is not taxable, you will have to file an income tax return and disclose it to the government.









A notification amending the provisions under section 12 (1) of the Income-tax Act was issued on 31st April and seven such amendments have been introduced. The amendment has been introduced as even those who spend heavily do not file returns stating that they do not have taxable income.










Amendments were introduced through a notification on April 21 and made returns mandatory for those with a turnover of more than Rs 3 million. Annually Rs. A turnover of Rs 50 lakh has been made mandatory. I also make it compulsory for a person or a trader to file a return for them and in the case of his senior citizens, if the interest income is not taxable, even if the income is deducted from the income of the commission, the amount of TDS or TCS of income tax is mandatory for that person. If it exceeds Rs. 50,000, it has been given.

The annual electricity bill of your house is Rs. More than 1 lakh | There will be seven different amendments to the law and if your income is not taxable, you will have to. has come. This amendment will have to be implemented as even those who spend heavily do not file a tax return saying that they have to give an explanation to the government by filing an income tax return. Filed under Section 12 (1) of the Income Tax Act.

Amendment through a notification dated 31st April made return mandatory for those with a turnover of more than 20 lakh. Annual Rs. 50 lakh turnover | Has been made mandatory. | Even filing returns for them | A person who owns or trades and his | Interest in case of Senior Cities | Has been made mandatory. The same | If you are not eligible for income tax Arising including income or commission income Income tax for the person in cash, check, or even in the current account Amount of TDS or TCS every year Mandatory to file the return from NEFT or RTGS Rs. If it exceeds Rs. 50,000, more than Rs. 1 crore has been deposited during that year. The Income Tax Office will take action against those who do not file a return. More than Rs. Doctor, lawyer, or then chartered |







Return file has not been made mandatory. Similarly, the income tax office will take action against those who deposit more than Rs 1 crore in cash, check or NEFT or RTGS in current account during the year. The annual income of a doctor, lawyer or professional including chartered accounts is Rs. 10 lakhs in such cases and from their payment during the year Rs.

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Tax deduction of more than Rs.2000 / - Even if more than Rs.1 crore has been deposited in cash account in TDS or TCS current account in a year, the return has been made compulsory. Has been given. Has come. Rs. With the help of NEFT, even if the income of those who show an expenditure of more than Rs. Their income is not taxable. Return file for them even if more than 20 lakh has been deposited If their income is not taxable Have to file.