As a chartered accountant, staying up-to-date with changes in tax laws is crucial to providing the best possible service to your clients.
Deduction in respect of Contributions given by Indian Companies
SEBI has directed all investors to link PAN with Aadhaar numbers by 31st March 2023 for seamless transactions in the securities market.
The Finance Act, 2020 has introduced a new tax regime which is now the default regime for Individuals, HUF, AOP (other than co-operatives), BOI & AJP.
Starting from July 1, 2023, booking foreign tour packages is going to become more expensive for Indians. The government has increased the tax collection at source (TCS) rate for foreign remittances under the Liberalised Remittance Scheme (LRS) from 5% to 20%
Let us know the tax-saving options available in the income tax
The Indian government has recently made an announcement that cryptocurrencies will now be included in the Prevention of Money Laundering Act (PMLA).
Here are a few landmark judgments by the Supreme Court of India in favor of Assessees in Income Tax cases
Any person being a transferee of immovable property, other than the agricultural land, responsible for making payment to a resident transferor as consideration for transfer of any immovable property, shall deduct TDS @1% of such payment.
The Income Tax Department has the power to search and seize( also called raids) property or money from people suspected of not paying their taxes. This is an important tool to catch tax evaders.
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