Whether you're a seasoned taxpayer or new to the game, this article will provide you with the tools and information you need to take control of your finances and make the most of tax season.
Whoever makes an assertion, must substantiate it. But whoever requires substantiation must also accept it or prove otherwise! In case an assessee explains the source of the investment in excess stock in his statement that the same was undisclosed income of the assessee from its business
In a significant development, non-resident Indians (NRIs) can now navigate tax-related matters more efficiently, thanks to the introduction of electronic filing for Form 10F.
CBDT has notified Income-tax Return Form 6 for the Assessment Year 2024-25, vide Notification No. 16/2024, dated 24-01-2024.
Bank statements are a fundamental part of accounting. Accountants typically collect the statements from clients on a monthly basis, however, the frequency can vary with some businesses providing statements quarterly or even more frequently, depending on their size, transaction volume, and specific needs.
The Income-tax Act, 1961 allows tax payers to challenge the orders passed by the AO after the assessment proceedings
Process of TDS payment has been changed from NSDL portal to Income Tax Portal. This article highlights the detailed process of making payment of TDS.
In a bid to support for Micro, Small, and Medium Enterprises (MSMEs), the recent amendment to Section 43B of the Income Tax Act has brought forth significant changes.
Most of us would be knowing about and have been claiming a rebate under section 87A of Income Tax Act, 1961. But very few of us would be fully aware about the controversial implications of new drafted proviso (b) to this section which is effective from AY 2024-25. Let's see the Section 87A of Income Tax Act, 1961 first.
Slump Sale means the transfer of one or more undertakings against a lump sum consideration without values being allocated to the individual assets and liabilities.
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