On June 30, 2023, the Ministry of Finance released detailed guidelines regarding the applicability of Tax Collection at Source (TCS) on various foreign remittances under the Liberalised Remittance Scheme (LRS).
To avail the "Authorize/Register as Representative" service on the e-Filing portal, you need to meet the following prerequisites
The deadline to link your PAN and Aadhaar is today, June 30, 2023. If you don't link them by today, your PAN will become inactive. This means you can't use your PAN for things like filing your taxes, getting a refund, or opening a bank account.
Tax Compliance Tracker - July 2023
An income tax return is a form that individuals, businesses, or other entities file with the government to report their income, deductions, and tax liabilities. It summarizes the financial information for a specific period, typically a year, and calculates the amount of tax owed or the refund due to the taxpayer.
This write-up aims to outline the revised policy and highlight its impact on stakeholders by addressing their concerns.
The income-tax return filing season is here, and taxpayers need to be aware of some changes in the ITR forms compared to last year.
Permanent Account Number, is an essential identification number issued by the Income Tax Department of India. The Permanent Account Number (PAN) is a ten-digit alphanumeric code issued by the Income Tax Department.
The CBDT notification, issued on June 21, 2023, outlines the procedure for consultants and professionals to follow if they want to stick with the old tax regime. They can fill out Form 10-IEA, which allows them to continue under the old tax regime and claim eligible tax exemptions and deductions.
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