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PAN-Aadhaar Linking Deadline: Link Your PAN and Aadhaar Today to Avoid Inconvenience
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.
Key Changes in ITR Forms for Filing Income Tax Returns: What Taxpayers Need to Know
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.
Extended Deadline: Last Opportunity for Higher EPS Pension Applications
The deadline to apply for a higher Employees' Pension Scheme (EPS) pension has been extended to July 11, 2023, from the original deadline of June 26, 2023. This extension is being offered as the last opportunity for employees to submit their joint application form for a higher pension from EPS.
Big Change for Consultants and Professionals: CBDT's New Form 10-IEA Enables Old Tax Regime Choice
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.
MCA plans to increase crackdown on shell companies
The Ministry of Corporate Affairs (MCA) is taking strong action against non-functional companies, commonly known as shell companies, as part of its ongoing efforts to combat illegal activities. MCA is planning to further intensify its crackdown on these companies, which are often used for illegal money transactions.
Striking a Balance: RBI Allows Compromise Settlements and Write-Offs for Defaulters and Fraud Companies with Precautions
The Reserve Bank of India (RBI) has issued a circular stating that banks and finance companies can enter into compromise settlements or technical write-offs with wilful defaulters and companies involved in fraud.
Tax Benefits on Rent Paid: Relief for Non-Salaried Individuals
When it comes to tax deductions for individuals living in rented accommodation, there is good news for both salaried and non-salaried individuals. While salaried taxpayers can claim House Rent Allowance (HRA) exemption, non-salaried individuals also have a provision that provides tax relief. Let's explore the details of this provision and the conditions to be fulfilled.
Crucial Form 16 Checks: Your Roadmap to Accurate Income Tax Return Filing
Form 16 is a crucial document for salaried individuals filing their Income Tax Returns. It provides information about tax deducted at source (TDS) by the employer and a summary of the salary paid.
The Dominance of Top Audit Firms in India's Corporate Landscape: Insights from Recent Data
The audit landscape in India is dominated by the top five professional services firms: EY, Deloitte, KPMG, PwC, and Walker Chandiok & Co. These firms oversee a significant number of audit assignments for Nifty-500 companies, accounting for 310 out of 498 assignments as of March 31, 2023.
Empowering Auditors: A Game-Changing Common Balance Confirmation Portal for Enhanced Financial Auditing
In a significant development for the auditing industry, a revolutionary mechanism is set to transform the process of obtaining balance confirmations. A common balance confirmation portal is being introduced to provide statutory auditors with reliable "external confirmation of balances" for effectively auditing financial statements.
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