Understanding why these notices are being issued more frequently and how to respond effectively can help taxpayers manage their tax compliance better.
14 September 2024 at 08:34
Section 10AA of the Income Tax Act, of 1961, provides big tax blessings for corporations running inside Special Economic Zones (SEZs). The provision ambitions to reinforce export-orientated companies with the aid of providing giant tax exemptions on income derived from export sports.
The tax auditor must report specific details related to TDS compliance under four key sub-clauses. Check out what are those.
11 September 2024 at 08:36
To maintain compliance with tax laws and prevent fines, filing this return on time is essential. We shall discuss the penalties that arise from filing a Nil TDS return after the deadline in this article.
1. Sec. 47 on transfers not regarded as transfers states as follows: (iii) any transfer of a capital asset by an individual or a Hindu undivided family, under a gift or will or an irrevocable trust;
09 September 2024 at 16:33
While the focus is on devotion and charity, religious and charitable entities such as Ganpati mandals and temples should also be mindful of their tax obligations.
07 September 2024 at 08:37
Taxpayers, rejoice! The Central Board of Direct Taxes (CBDT) has unveiled a game-changing initiative that will bring much-needed relief to millions of taxpayers.
06 September 2024 at 08:42
To make the information more appealing to Chartered Accountants (CAs) and finance professionals, the focus should be on tax trends, financial insights and the significance of high tax payments by celebrities. Here's how the key points can be tailored to engage them
43B(h) any sum payable by the assessee to a micro or small enterprise beyond the time limit specified in section 15 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), shall be allowed
Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H be chargeable to income-tax under the head "Capital gains"
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