e-DRS u/s 245MA of IT Act for Effective Tax Dispute Management
e-DRS is managed by the Central Board of Direct Taxes and aims to reduce litigation and provide relief to eligible […]
Section 122A: Penalty for Unregistered Machines from 1 Oct 2024
Section 122A was introduced by the Finance Act, 2024 and will come into effect from 1st October 2024. Purpose Section
Direct Tax Vivad Se Vishwas Scheme 2024: Benefits for New Appellants
Direct Tax Vivad Se Vishwas Scheme making it more beneficial for those who join the scheme late as it offers
Securities Transaction Tax: Rate Hikes on F&O w.e.f 1st October 24
Securities Transaction Tax (STT) was introduced in the year 2004 Union Budget and came into effect from 1st Oct 2004.
Section 40A(2)(b): Tax Implications of Related Party Payments
Section 40A(2)(b) of the Income Tax Act means that if a taxpayer makes a payment to a related party, they
PF Withdrawal Limit: Subscribers Can Withdraw Up to Rs 1 Lakh
PF withdrawal limit has been raised from Rs 50,000 to Rs 1,00,000. The announced made by the Union Labour Minister
Appeal Under Income Tax : CBDT’s Revised Thresholds for Faster Resolutions
Appeal is a petition against an order of assessing officer when an assessee is not satisfied with the order of
Form 67: Claiming Tax Relief Under DTAA
Form 67 is a declaration containing Statement of income from a country or specified territory outside India and Foreign Tax
Health Insurance For Senior Citizens: Coverage for Age above 70
Health insurance for senior citizens provides medical coverage to individuals which covers pre- and post-hospitalization expenses, daycare procedures, and sometimes
Form 71: TDS Claim in the Correct Tax Year
Form 71 enable taxpayers in correcting errors in tax deduction at source (TDS). This form is also applicable when TDS
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