My Commerce Buddy

27/07/2021

TDS on Purchase 👉

21/07/2021

Tax Implications In Case of A Deceased Assessee:

Amid the verge in COVID 19 cases in this second wave of the deadly pandemic, unfortunately, we have faced a lot of deaths in this second wave. Therefore, it is pertinent to discuss the tax implications in case of a deceased Assessee

Computation of Income of the Deceased
All the income earned from the start of the year till death would be considered as the Income of the deceased.
A deceased person is entitled to all the deductions and exemptions for the entire year, but tax is levied only on the income earned till his/her death. However, the return of the deceased would include income till the date of death of Assessee.

Income earned after the date of death
While determining the taxability of the Income earned from the estate of the deceased person after the date of his/her death,taxable in the hands of the legal heirs.

Before Filing ITR of deceased person The Legal heir of the deceased person needs to register himself as ‘Representative Assessee’ on the income tax portal by giving valid proofs of legal heir.

Ajay Gupta & Associates
Contact : 9999004513

15/06/2021

👉 Notified Cost inflation index for F.Y 2021-22 is '317'

04/06/2021

In this ITR season which option you will choose ??

Old tax regime or New tax regime

Here is the answer of your question :-

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https://youtu.be/ZSoBdgtC268

Hello Guyzz , I am CA Ajay Gupta starting this youtube channel to provide the knowledge about Taxation and finance with simple language and with practical ex...

28/05/2021

Key Highlights: 43rd GST Council meeting held on 28th may 2021:

26/05/2021

Income Tax Update

Features of New Income Tax Portal :

1. New taxpayer friendly portal integrated with immediate processing of Income Tax
Returns(ITRs) to issue quick refunds to taxpayers;

2. All interactions and uploads or pending actions will be displayed on a single dashboard for follow-up action by taxpayer;

3. Free of cost ITR preparation software available online and offline with interactive questions to help taxpayers fill ITR even without any tax knowledge, with prefilling, for minimizing data entry effort;

4. New call center for taxpayer assistance for immediate answers to taxpayer queries with FAQs, Tutorials, Videos and chatbot/live agent;

5. All key portal functions on desktop will be available on Mobile App which will be enabled subsequently for full anytime access on mobile network;

6. New online tax payment system on new portal will be enabled subsequently with
multiple new payment options using netbanking, UPI, Credit Card and RTGS/NEFT from any account of taxpayer in any bank, for easy payment of taxes.

26/05/2021

ITR not Filed ??
Ready to deduct TDS at 'HIGHER RATE'

for more details click on my video👉

Hello Guyzz , I am CA Ajay Gupta starting this youtube channel to provide the knowledge about Taxation and finance with simple language and with practical ex...

09/03/2021

02/02/2021

GST audit is still applicable for F.Y 2019-20.

15/11/2020

👉 Tolerable limit from 10% to 20% under Section 43CA and Section 56(2)(x)