The Central Board of Indirect Taxes and Customs has issued various relaxations under the GST Law, keeping in lieu the drastic effect of COVID-19. Discussing the same in this article.
Tax planning is a part of financial planning. Though it is difficult to avoid taxes, you can strategise to reduce the tax outgo efficiently. Laying out some tips for the same, in this article.
According to the Finance Act 1987 amendment, you can file your Belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY).
Discussing the three types of challan cum returns under TDS on Payment of transfer of Immovable Property, TDS on Rent on Property and TDS on Payment to Resident Contractors and Professionals.
A bond washing transaction can be defined as a transaction where some securities are sold sometime before the due date of Interest and reacquired after the due date is over. In order to discourage such transactions Section 94 was introduced.
As per the Income Tax Act, a foreign citizen may end up being an Indian Resident & liable to pay tax for a particular year. So, it is important to know one's residential status.
A corporate guarantee is a contract between a corporate entity or individual and a debtor. The supply of corporate guarantee is a supply of service, accordingly liable to GST.
The change of career or a break in the career in the middle of a full-time job is known as a Bridge Job. In this article, we have discussed some benefits of doing Bridge Jobs in the course of one's career.
Deduction u/s 35AD is available towards any capital expenditure, wholly and exclusively, incurred for carrying on a specified business. This deduction has been applicable since AY 2010-11.
There is no specific mention of Interest on Unutilized Credit reversal. Rules marked regarding the charging of Interest u/s 50 (1) cannot override the section in which there is no Interest mention on reversal of unutilised ITC.
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