In order to obtain the relief from double taxation of income under DTAA, one must obtain a certificate of residence known as Tax Residency Certificate. Tax Residency Certificate once issued is valid for an entire financial year.
Nowadays there is a boom in equity transactions, investment etc., Indian investors have gone beyond traditional gold, silver, real estate to equities, mutual funds and few have further seen to be investing in the public companies which are about to be listed (Shares brought in unlisted market).
There are several significant changes coming up in September that will affect your savings, regardless of whether you pay income taxes, use debit cards for regular purchases, or participate in the national pension system.
05 September 2022 at 13:50
Mahalaxmi Festival is celebrated with great enthusiasm by the taxpayers and the taxpayers ensure that the proper preparations and arrangements are made for arrival of Goddess Mahalaxmi. Along with this the taxpayer should keep in mind the provisions while dealing in cash.
In terms of modified instruction No. 1914 dated 21.03.1996 issued by CBDT, payment required to be made by the assessee as a precondition for stay of demand disputed before CIT(A) is 20%.
The author has made the attempt to present this article in FAQ format by curiously and incisively watching and analysing, threadbare, the insightful discussions pertaining to clause 44 reporting in Form 3CD for the benefits of all the readers of this article.
Any person or an assessee who is aggrieved by an order of an Assessing Officer (AO), can file an appeal against the order before the Commissioner of Income Tax (Appeals) by submitting Form 35 online on the Income tax e-Filing portal within 30 days from the date of service of order or demand.
The author lists down Tax Compliance Tracker for the m/o September, 2022
Income Tax and GST Compliance Calendar for the month of September 2022
Section 245 of the Income Tax Act empowers the Income tax department to adjust any amount of refund due to the assessee with any previous outstanding tax liability.
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