Phoenix Auditing

Month: November 2020

Who is eligible to file which tax return for FY 2019-20?

All individuals having taxable income or those who satisfy other prescribed conditions are required to file annual income tax return (ITR) within the specified due date. For the financial year (FY) 2019-20, the specified due date for individuals (as extended by the government) is December 31, 2020 for filing...

WHO SHOULD REGISTER FOR TDS

Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited. Who is liable to deduct TDS?...