To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD, 44ADA, and 44AE.
In this Taxalogue, I am discussing at least 7 Reporting Clauses in the Tax Audit Report (Annexure Form 3CD), which requires reporting by the Tax Auditor on certain specified compliances by the tax auditee up till the due date of filing of ITR u/s 139(1) of the Income Tax Act.
This is perhaps the most vital concept in international taxation. Finance Act 2016 has brought a key change in the scope of international taxation. Finance act 2020 has further expanded the scope of equalisation levy.
In this article, we discuss various changes that must be implemented in order to achieve the essence of the budget. One among them is the introduction of dividend Tax for the reasons mentioned in this article.
Among the softwares that are used for the preparation of books of accounts, Tally Software is widely used. In this article, we will discuss some important points that must be considered while doing a Tax Audit in the Tally Software.
The CBIC vide Notification No. 92/2020- Central Tax dated December 22, 2020, appointed January 1, 2021, as the date on which the following sections of the Finance Act, 2020 shall come into force.
Section 9 of the Income Tax Act is a deeming fiction. This section provides that in certain situations, the income is deemed to accrue or arise in India despite fact that the actual place of accrual is outside India.
Over a period of time, the Goi has time to time amended these provisions. Before 2017, Gift was taxable in hands of Individual, HUF, Firm and Closely held Company at tax is levied at the rates prescribed by Finance Act.
In this article, we will discuss the major updates from the Finance and Tax Industry between 19th December and 26th December 2020
All persons paying salary are responsible to deduct TDS on income chargeable under the head "Salary". In this article, we discuss all about TDS u/s 192 - Payment on Salary.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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