As you are aware that, the period of Jan-March is a period in which we salaried personal are in tremendous stress to save our taxes and the instruments in which we have to invest to save taxes.
The Annual Information Statement (AIS) in Form 26AS is a comprehensive view of information for a taxpayer that includes details of tax credits received from various deductors/collectors, tax payments made by the taxpayer, and any tax refund received by the taxpayer.
Form 10BA is a tax form used in India for declaring deductions claimed under Section 80GG of the Income Tax Act. This section allows for deductions on rent paid for residential accommodation if the individual does not own a house or if the house is not available for his use.
As we all know March 2023 is coming. This means financial year 2022-23 is about to end. Everyone looks for tax planning to save tax. Here we will talk about ways to save tax for salaried people.
Section 194IA is inserted by Finance act 2013 and it is applicable from 01st of June, 2013.
Section 80IAC of the Income Tax Act provides tax benefits to eligible startups for their first three years of operations.
Valuation refers to calculation of value of the business/underlying asset/liabilities of entity.
Any payment made to non-resident or to a foreign company whereby tax has to be deducted under Section 195 of Income tax Act ('IT ACT'). There are lot of complexities in dealing with this aspect which will be discussed in this missive.
In India, transfer pricing is regulated by the Income Tax Act 1961 and the rules prescribed thereunder. The Central Board of Direct Taxes (CBDT) is responsible for enforcing India's transfer pricing regulations.
Incidence of Section 112A in the hands of unit-holders of a business trust, to be taxed at maximum marginal rate (MMR) u/s 115UA of the income tax act, 1961
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English