Tax Audit Limit: Criteria for Businesses and Professionals
Tax audit limit specifies the threshold for businesses and professionals, beyond the limit must get accounts audited under Section 44AB […]
Clause 44 of Tax Audit Report: A Quick Overview for Auditors
Clause 44 of Tax Audit Report in Form 3CD requires auditors to provide a detailed breakup of the total expenditure
GST on Flex Fuel Vehicles: Call for Lower GST to Propel Bio-energy Growth
GST on flex fuel vehicles shall reduce to 12% suggested by the Union Minister Nitin Gadkari to promote their use.
Tax Audit Applicability: Criteria and Thresholds You Should Know
Tax audit applicable if business or profession exceeds certain turnover or income threshold limits. Income tax audits under Section 44AB
Income Tax Refund Delay: Common Reasons and Solutions
Income tax refund delay occurs due to various factors which may include issues with verification, errors or incorrect information in
Domicile Certificate: Purpose and Application Procedure
Domicile certificate is a proof of an individual that he/she is permanent residence in a particular state or union territory
Section 44ADA of Income Tax Act: Taxation for Professionals
Section 44ADA of Income Tax Act means estimating the income of an assessee who is engaged in any profession referred
Reverse Charge Mechanism: New Statement for Accurate Filing
Reverse Charge Mechanism means the liability to pay tax is on the recipient (Purchaser) of supply of goods or services
Section 44AB of Income Tax Act: Threshold Limits and Applicability
Section 44AB of Income Tax Act means when a person is engaged in business is required to maintain regular books
Unified Pension Scheme (UPS): New Era in Retirement Benefits
Unified Pension Scheme (UPS) is an important initiative announced on 24th August 2024 by the Narendra Modi government to provide
Section 43B(h) of Income Tax Act: How to Report in Form 3CD
Section 43B(h) of Income Tax Act Finance Act 2023 inserted a new provision u/s 43B i.e., clause (h) which states
Tax Audit Report: Changes in Tax Audit Reporting Clauses
Tax Audit Report is a document prepared by a Chartered Accountant. It is prepared after examining thoroughly the financial records