Listing some of the benefits of filing an Income tax return on time
The term OIDAR services, which stands for Online Information and Database Access or Retrieval services, pertains to services provided through the internet or electronic networks with minimal human involvement.
Section 126 of the CGST Act lays down certain guiding principles that must be followed while imposing penalties under the GST regime. These principles ensure that the penalties are imposed fairly, objectively, and in a proportionate manner.
Salaried individuals can avail tax exemption on house rent allowance (HRA) if they live in a rented house, pay rent, and possess the necessary valid documents. However, many people are unaware that their rent agreements should include specific clauses to ensure that their HRA tax exemption, claimed during income tax return (ITR) filing, is not rejected by the income tax department.
The Company sought an interpretative letter from the SEBI under the SEBI (LODR) Regulations, with a view to seek clarification for the doubts regarding the applicability of Business Responsibility and Sustainability Reporting ("BRSR").
For salaried employees house rent allowance is a component of their salary. Unlike basic salary HRA is not fully taxable, a part of it is exempted u/s 10(13A) of Income Tax Act, 1961.
The Income Tax Department has announced the roll-out of a statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year.
A Limited Liability Company (LLC) is a business structure where the owners are called members. It combines the characteristics of a sole proprietorship, partnership, and corporation.
Introducing a slab-based taxation system for agricultural income could be a feasible approach. By doing so, the burden of taxation can be adjusted according to the income levels of the farmers.
Under Section 71 of the GST Act, any officer authorized by a proper officer, not below the rank of Joint Commissioner, has the authority to access the premises of a registered person's business
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