Income Tax Articles

Tax Audit also helps as Vighna-harta!

Posted by Member (Account Deleted) 18 September 2023 8982 Views

How does undergoing an income tax audit solve issues and make things easier for businesses?

PMLA Act Tightens for Banking & Financial Transactions

Posted by Vivek Jalan 18 September 2023 12724 Views

Bank Accountholders undertaking specified transactions to be alert as PMLA Act becomes more stringent for Banking/NBFC/Financial and other Entities

FAQs: Purchase of immovable property outside India by Resident Individuals

Posted by Mitali 15 September 2023 4004 Views

Purchase of immovable property outside India by Resident Individuals

FAQs on: DSC Related Issues & Solutions

Posted by Aisha 15 September 2023 2970 Views

Income Tax Department releases FAQs on: DSC Related Issues & Solutions

Top 10 Red Flags That Trigger a Tax Audit

Posted by Mitali 13 September 2023 18380 Views

A tax audit is a formal examination of a taxpayer's financial records and tax returns by a government tax authority (such as the Internal Revenue Service in the United States) to ensure accuracy and compliance with tax laws.

Streamlining Tax Credits: How New Form 71 Resolves TDS Mismatch Issues

Posted by Rashmi 13 September 2023 6227 Views

The Central Board of Direct Taxes (CBDT) has introduced Form 71, which allows taxpayers to correct incorrect Tax Deducted at Source (TDS) credits for past financial years

Declaration of no PE in India and Form No. 10F

Posted by Mitali 12 September 2023 47461 Views

No PE Declaration is a certificate provided by a non-resident who earns income from India, such as interest, fees for technical services, or business income.

How to Register on TDS TRACES Website

Posted by Shivani 12 September 2023 4388 Views

TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform in used for the reconciliation of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) statements filed by deductors or collectors with the income tax department.

An agreement for loan has to be accepted by AO unless proved fraudulent

Posted by Vivek Jalan 12 September 2023 2084 Views

Vide Finance Act, 2012, it was provided that the nature and source of any sum, in the nature of share application money, share capital, share premium or any such amount by whatever name called, credited in the books of a closely held company shall be treated as explained only if the source of funds is also explained in the hands of the shareholder

Income Tax Department Sends Notices to 22,000 Taxpayers Over Deduction Discrepancies

Posted by Rashmi 12 September 2023 2315 Views

The Income Tax Department (ITD) has recently sent out notifications to around 22,000 taxpayers, including salaried individuals, high-net-worth individuals, trusts, and Hindu Undivided Families (HUFs).