The Ministry of Finance recently issued a clarification regarding media reports suggesting a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases linked to House Rent Allowance (HRA) claims. These reports, according to the Ministry, are not grounded in reality, and there is no substantial evidence to support claims of a large-scale reopening of cases.
In this case law, the Regional Director has entirely focused on the Company Secretary and stated that the Company Secretary is solely responsible for the Company's Secretarial Standards and Compliances. Read the editorial till end.
The Income Tax Act mandates tenants to deduct Tax Deducted at Source (TDS) on rent payments under certain circumstances. This helps collect tax from landlords at the source of income. Here's a breakdown of TDS on rent under Section 194IB and 195
In this comprehensive guide, we'll delve into the intricacies of valuation reports and how they can empower NRIs to achieve remarkable tax savings of up to 30-40% when selling a property in India.
Goods and Services Tax (GST) is a self-assessment-based tax scheme wherein a taxpayer is required to determine its tax liability and avail the eligible credit on a periodical basis.
Deciding which tax regime to choose it completely depends upon individual financial circumstances.
In India, financial institutions are mandated to obtain Central Know Your Customer (CKYC) registration from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
This article explores the integration of PAN in India's MSME registration, enhancing transparency and efficiency.
Form 10-IEA has been notified through Notification No. 43/2023 dated 21st June 2023 which enables taxpayers to make choice between the old and new tax regimes.
Any businessman or entrepreneur, visualises the business based on certain future projection and undertakes all kind of risks. It is the risk factor alone which gives a higher return to a businessman and the income tax department or revenue official cannot guide a businessman in which manner risk has to be undertaken.
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