The Consolidated Fund of India, as defined in Article 266(1) of the Indian Constitution, serves as the most important reservoir for all revenue received by the government from various sources.
SFT is a mechanism for monitor high-value transactions conducted by Assessee/customer; a significant regulatory measure was introduced with the inception of Form 61A under Section 285BA, effective from April 1, 2004, as per Notification No. 182/2005 dated July 11, 2005.
The Income Tax Department has now upgraded the AIS functionality, allowing taxpayers to track the confirmation status of information reported by sources like banks. This new feature aims to increase transparency by displaying if the source has accepted or rejected feedback on incorrect data in the AIS.
In India, the dairy industry forms an important part of the agricultural sector and plays an important role in the growth of India's economy. Another important area is providing livelihoods to hundreds of people across rural and urban areas.
In this article, we have tried to cover the liability of directors under different laws, i.e., company law, income tax, and GST.
According to Times of India the investor base has seen more than 3x jump in the last five years, facilitated by rapid growth in digitization, rising investor awareness, financial inclusion, and strong market performance.
As we explore the fiscal year 2024 (FY24), it's crucial to understand the intricate tax implications for NRIs to ensure compliance with Indian tax laws and optimize tax efficiency.
In the sphere of organizational management, audits serve as indispensable tools for enhancing efficiency, ensuring compliance, and driving overall effectiveness. Among the array of audit types, two stand out prominently: systems audit and process audit.
In a recent judgment of Jharkhand HC, the captioned principle has been discussed at length.
The Goods and Services Tax (GST) in India has been a subject of continuous evolution since its implementation. One such aspect that has been a cause for concern among taxpayers is the compliance with Rule 86B.
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