Tea development account, coffee development account and rubber development account-Section - 33AB, Income-tax Act, 1961

Tea development account, coffee development account and rubber development account.

33AB. (1) Where an assessee carrying on business of growing and manufacturing tea or coffee or rubber in India has, before the expiry of six months from the end of the previous year or before the due date of furnishing the return of his income, whichever is earlier,—

(a) deposited with the National Bank any amount or amounts in an account (hereafter in this section referred to as the special account) maintained by the assessee with that Bank in accordance with, and for the purposes specified in, a scheme (hereafter in this section referred to as the scheme) approved in this behalf by the Tea Board or the Coffee Board or the Rubber Board ; or

RATES OF INCOME-TAX under income tax act

RATES OF INCOME-TAX

Income-tax.

2. (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2021, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased by a surcharge, for the purposes of the Union, calculated in each case in the manner provided therein.

Depreciation.-Section - 32, Income-tax Act, 1961-2021

Depreciation.

32. (1) In respect of depreciation of—

 (i) buildings, machinery, plant or furniture, being tangible assets;

(ii) know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, 84[not being goodwill of a business or profession,]

Section - 31, Income-tax Act, 1961-2021

Repairs and insurance of machinery, plant and furniture.

31. In respect of repairs and insurance of machinery, plant or furniture used for the purposes of the business or profession, the following deductions shall be allowed—

 (i) the amount paid on account of current repairs thereto ;

(ii) the amount of any premium paid in respect of insurance against risk of damage or destruction thereof.

Explanation.—For the removal of doubts, it is hereby declared that the amount paid on account of current repairs shall not include any expenditure in the nature of capital expenditure.

Section - 30, Income-tax Act, 1961-2021

Rent, rates, taxes, repairs and insurance for buildings.

30. In respect of rent, rates, taxes, repairs and insurance for premises, used for the purposes of the business or profession, the following deductions shall be allowed—

(a) where the premises are occupied by the assessee—

 (i) as a tenant, the rent paid for such premises ; and further if he has undertaken to bear the cost of repairs to the premises, the amount paid on account of such repairs ;

(ii) otherwise than as a tenant, the amount paid by him on account of current repairs to the premises ;

(b) any sums paid on account of land revenue, local rates or municipal taxes ;

(c) the amount of any premium paid in respect of insurance against risk of damage or destruction of the premises.

Explanation.—For the removal of doubts, it is hereby declared that the amount paid on account of the cost of repairs referred to in sub-clause (i), and the amount paid on account of current repairs referred to in sub-clause (ii), of clause (a), shall not include any expenditure in the nature of capital expenditure.

 

How to solve emsigner error on google or chrome in 2021?

when we try to apply dsc over google or chrome we face error from emsigner that it should restarted or version old then you should follow these steps to avoid the same error.

friends kindly apply step by step to remove the same error.

How to check GST registration status –new registration

 

How to check GST registration status –new registration

-Go to website www.gst.gov.in

-go to registration tab under services tab on main menu

GST RETURN FILLING PROCEDURE AND RULES AND FORMATS-GSTR 1/ GSTR 2/ GSTR 2B/ GSTR 2A / GSTR 3

 

GST RETURN FILLING PROCEDURE AND RULES AND FORMATS

GSTR-1

 

Latest Updates on GSTR-1

29th August 2021
Company taxpayers can continue filing GSTR-1 and GSTR-3B using EVC or DSC up to 31st October 2021 via the CGST notification number 32/2021 dated 29th August 2021.

26th August 2021
From 1st September 2021, taxpayers will not be able to file GSTR-1 or use the IFF for August 2021 on the GST portal if they have pending GSTR-3B filings. It applies if GSTR-3B is pending for the past two months till July 2021 (monthly filer) or for the last quarter ending 30th June 2021 (quarterly filer) as per CGST Rule 59(6).


28th May 2021
The GST Council recommended in its 43rd meeting the following: 
(1) The monthly filing of GSTR-1 for May 2021 will be extended from 11th June 2021 to 26th June 2021.
(2) Filing of B2B sales invoices in IFF by QRMP taxpayers for May 2021 is extended from 13th June 2021 to 28th June 2021.
(3) Companies that are GST taxpayers have been given permission to authenticate returns using EVC instead of digital signature up to 31st August 2021.

View notices/orders and File Reply to the Issued Notice

 

View notices/orders and File Reply to the Issued Notice

General

1. How can I view my saved/filed application, track it's status and view associated notices and orders for refund applications filed before or after 26th September 2019?

FORM NO. 9 -Application for grant of approval or continuance thereof to a fund under section10(23AAA) of the Income-tax Act, 1961

 FORM NO. 9 

[See rule 16C] 

Application for grant of approval or continuance thereof to a fund under section10(23AAA) of the Income-tax Act, 1961

CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22

 

CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22

On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021- 22 under the Income-tax Act, 1961(the “Act”), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22. The details are as under:

e-Filing of ITR

 

e-Filing of ITR

The user can file the Income Tax Return (ITR) in two ways:

1. Offline: Download the applicable ITR, fill the form offline, save the generated XML file and then upload it.

To e-File the ITR using the upload XML method, the user must download either of the following ITR utility:

Excel Utility

Java Utility

General FAQs

 

General FAQs

What is Income tax

​​It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.​

FAQs On PDF Conversion

 

FAQs On PDF Conversion

Annual e-Filing

1

What is the file size restriction for Annual Filing eForm Uploads?

The system does not allow file size of more than 2.5 MB for uploading of eforms, which means that the total size of the eForm including the attachments should be less than 2.5 MB. If it exceeds this size, the Form will not be accepted by the system.

ATM rules 2021: Cash withdrawal, transaction charges

 

ATM rules 2021: Cash withdrawal, transaction charges

The Reserve Bank of India had recently announced a couple of changes in the ATM rules. While these rules are in line with the long pressing demands by the payment services, banks and white label ATM operators for customers it also means a little more burden on their pocket.

Trademark Rectification

 

What Is Trademark Rectification?

Rectification means to rectify any mistake or error. The same facility is available under trademark registration. As per the title, it indicated that if an error occurred while applying for the trademark registration or after the registration of the mark, the applicant could apply for its rectification. However, this facility not only includes correction or an error but also contains the changes or alterations which the applicant independently wants to make in the trademark application or after getting the certification of registration. 

Trademark e-Filing Form: TM-M 1. Click on New Application

 

Trademark e-Filing Form: TM-M 1. Click on New Application

File TM-M File TM-C File TM-O File TM-R File TM-P File TM-U File TM-G Miscellaneous Reply Update Application/Forms Form History Payments

 File TM-M File TM-C File TM-O File TM-R File TM-P File TM-U File TM-G Miscellaneous Reply Update Application/Forms Form History Payments 

Response to Trademark Objections

 

Response to Trademark Objections

 

Checklist For A Trademark Objection

The Trademark Examiner scrutinizes the trademark application to make sure the application isn’t in conflict with any trademark rules. A trademark application can face objection for any of the following reasons:

Challans- under INCOME TAX

CHALLANS

ITNS-280

* Important : Please see notes overleaf before filling up the challan Single Copy (to be sent to the ZAO) CHALLAN Tax Applicable (Tick One)* NO./ (0020) INCOME-TAX ON COMPANIES