Compounding of contraventions is a voluntary process where an individual or entity admits a contravention under any provision of law and seeks to settle the matter by paying the compounding fees, thus avoiding lengthy legal proceedings and hefty penalties that arise due to the committed contraventions.
This article outlines the simple steps to correctly register an LLP online, highlighting the key benefits of LLP Registration Online.
The latest tax reform bill has introduced significant simplifications in the Salary and House Property provisions to enhance clarity and ease of compliance.
Mrs. isn't just a story about one woman-it's a mirror to workplaces stuck in outdated norms. Whether it's resisting tech, ignoring talent, or undervaluing well-being, the cost of clinging to the "old way" is steep.
The Income Tax Act, 1961 establishes specific timelines for the filing of income tax returns (ITR). However, taxpayers may encounter unexpected situations that lead to delays in meeting these deadlines.
One of the most notable changes is the introduction of the term "tax year," which replaces the concept of the "previous year" and the "assessment year" from the Income Tax Act, 1961.
On 13th February 2025, Hon'ble Finance Minister Smt Nirmala Sitharaman proposed the New Tax Bill. The new bill is proposed to come into force on April 1, 2026. ..
Long-Term Capital Gain(LTCG)- Intra head LTCG setoff missed due to amendments in section 112 and not in Sec48.
The govt has proposed this fresh and straightforward law, one that taxpayers will appreciate-perhaps even fall in love with! Just like a well-crafted Valentine's letter is easy to read and understand, this new Bill aims to win the hearts of taxpayers by bringing clarity, simplicity, and ease to tax compliance.
To assist with this transition, the government has released a comparison chart that maps the sections of the Income Tax Act 1961 to their corresponding sections in the Income Tax Act 2025. This chart will be highly beneficial in helping you quickly locate the new sections if you remember the old section numbers.
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