In this article, CA Mehul Thakker explains the concept of International Taxation with regard to the Taxation of Non-residents Shipping Business in Section 44B of the Income Tax Act.
In this article, we will understand the amendment in Section 194J w.e.f 1st April 2020 - Interpretation of "Fees for Technical Services" (FTS) and "Fees for Professional Services" (FPS)
In this article, we discuss all the Important Judicial Pronouncements on Presumptive Taxation under the Income Tax Act 1961.
Residential status is a vitally critical component under Income tax. It varies for various classes of assessees. The concept of residential status lies under Income tax and FEMA.
The persons having a turnover of more than Rs. 1 crore but less than Rs. 2 crores and declaring income u/s 44AD would be required to deduct TDS. Furthermore, the eligible assessee is now required to pay advance tax by 15th March of the financial year.
If the assessee fails to get his accounts audited or furnish a report of such audit u/s 44AB, a flat penalty u/s 271B shall be attracted. No penalty shall be imposed u/s 271B if the assessee proves that there was reasonable cause for such failure.
Currently, businesses having turnover of more than one crore rupees are required to get their books of accounts audited by an accountant. In order to reduce the..
Keeping in view the effect of COVID-19, the FM had extended the due date for filing the Tax Audit, Transfer Pricing Audit and Income Tax Returns. However, is there a need to extend these due dates further?
The GoI has recently notified the draft rules under The Code on Wages 2019. The new rules which are expected to enter into force in April 2021, will potentially have consequences on your take-home salary and retirement corpus.
How to use the Java based software utility available for download in the Income Tax Portal where the taxpayer does not have MS Excel versions 2010 or later
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools