If we talk about the frequency, the TDS return may be revised multiple times, which allows taxpayers to make corrections as and when needed. However, it is advisable to avoid excessive revisions to prevent complexities in record-keeping.
Discover key recommendations from the 54th GST Council Meeting. Stay informed on the latest updates and insights that impact your business and compliance.
In the Union Budget of 2024, FM Nirmala Sitharaman introduced this new section of TDS in the Income Tax Act, 1961 i.e. Section 194T. This section imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.
Explore the key takeaways from the Union Budget 2024 presented by FM Nirmala Sitharaman
Discover the key highlights of the Rajasthan State Budget for July 2024, including major allocations, policy changes and initiatives aimed at boosting the state's economy and welfare programs
The recent meeting held on June 22, 2024, has resulted in a series of significant amendments and recommendations aimed at providing relief and clarifications to taxpayers under the Goods and Services Tax (GST) regime.
Crucial for Accurate ITR Filing: Form 16 is essential for taxpayers to accurately file their income-tax returns
Recently, Inter-alia SEBI came up with the New Initiative for Enhanced Transparency and Compliance. Let's start this article with a brief introduction to the circular.
In India, the dairy industry forms an important part of the agricultural sector and plays an important role in the growth of India's economy. Another important area is providing livelihoods to hundreds of people across rural and urban areas.
Angel Tax which is governed by Section 56(2)(viib), was introduced in the Income Tax Act from the Assessment Year 2013-14 via finance bill, 2012 as a step to take up the circulation of unaccounted money in the name of share premiums which were received by private companies or closely held companies.