Income Tax Articles

Understanding Important Tax Audit Reporting Clauses with Funny QAs

Posted by Mayank Mohanka 02 October 2022 20073 Views

In this article, I am presenting some hilarious Tax Audit QAs/visualisations conceived and visualised by me, which will help You in understanding all important reporting clauses in the Form 3CD Annexure in the Tax Audit Report (TAR), in a funny yet purposeful and useful manner.

Due Date Compliance Calendar for the month of October 2022

Posted by Neethi V. Kannanth 01 October 2022 17938 Views

Compliance Calendar for the month of October 2022

What is NRE and NRO Account?

Posted by Taxblock 01 October 2022 5576 Views

A Non-Resident External (NRE) Account is a bank account that an NRI can open in an Indian scheduled bank to deposit their foreign earnings in India. These accounts can be savings accounts, current accounts, recurring deposits, and fixed deposit accounts

Is ITAT wrong in interpreting the provisions of Sec 115JB as regards MAT?

Posted by Adv. Ravish Bhatt, ADIT, CIOT 29 September 2022 5142 Views

MAT is payable at the rate of 15% of the book profits of the company, prepared as per Schedule III of the Companies Act, 2013.

How does work from home affects the NRI working from India

Posted by Taxblock 29 September 2022 3408 Views

Many non-resident Indians (NRIs) came to India just as COVID-19 had started to spread and were stuck in India for a longer period. The main concern after the pandemic was regarding the treatment of their tax liabilities. However, the government has come up with various rules about the residential status of these people.

Disclosure in Tax Audit Clause 44

Posted by CA Ramanujan Sharma 29 September 2022 26338 Views

In this article author has shared the matter for qualification regarding clause 44 of the Tax audit

FAQs for filing of Form 3CA-3CD/3CB-3CD

Posted by Shree 28 September 2022 33314 Views

CBDT issued FAQs for filing of Form 3CA-3CD/3CB-3CD

Benefits of Double Taxation Avoidance Agreement (DTAA)

Posted by Taxblock 28 September 2022 5324 Views

The DTAA (Double Taxation Avoidance Agreement) assists NRIs who work outside of India in avoiding paying double taxes on income earned in India and their residency country.

Revised guidelines for compounding of offences under IT Act 1961

Posted by FCS Deepak Pratap Singh 26 September 2022 2803 Views

As you are aware the Compounding of an offence is a process or mechanism in which a defaulter is reprieved of major legal consequences and imprisonment by paying specified sum. An offence can be compounded by Principal Chief Commissioner or Chief Commissioner of Director-General having jurisdiction where defaulter resides or running business or profession.

Tax on Virtual Digital Asset

Posted by CA Himanshu Gandotra 26 September 2022 12421 Views

Virtual Digital Assets or Crypto-currency or NFTs are the center of attraction in today’s finance world. One gets very eager to learn and trade in these avenues considering their nature of quick and big profits. As we all know, these assets have grown tremendously in value in the last decade.