CAclubindia Articles
Streamlining Tax Credits: How New Form 71 Resolves TDS Mismatch Issues
The Central Board of Direct Taxes (CBDT) has introduced Form 71, which allows taxpayers to correct incorrect Tax Deducted at Source (TDS) credits for past financial years
Top 10 Red Flags That Trigger a Tax Audit
A tax audit is a formal examination of a taxpayer's financial records and tax returns by a government tax authority (such as the Internal Revenue Service in the United States) to ensure accuracy and compliance with tax laws.
Declaration of no PE in India and Form No. 10F
No PE Declaration is a certificate provided by a non-resident who earns income from India, such as interest, fees for technical services, or business income.
How to Register on TDS TRACES Website
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform in used for the reconciliation of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) statements filed by deductors or collectors with the income tax department.
Comprehensive Guide to Annual Filing Forms AOC-4 and MGT-7
We have made an attempt to provide information cum clarification on Forms AOC-4 & MGT-7 for reporting the Financial Statements and Annual Return, respectively, as the Annual Filing is soon approaching.
Top Invoicing Tips for Freelancers and Independent Contractors
Freelancing and independent contracting have become increasingly popular in recent years, offering individuals the freedom to choose their projects, set their schedules, and work from virtually anywhere.
Beware of Cash Transaction under Income Tax Act
Some important provisions under Income Tax Act relating to cash transactions
An agreement for loan has to be accepted by AO unless proved fraudulent
Vide Finance Act, 2012, it was provided that the nature and source of any sum, in the nature of share application money, share capital, share premium or any such amount by whatever name called, credited in the books of a closely held company shall be treated as explained only if the source of funds is also explained in the hands of the shareholder
Roles of Directors & Shareholders in GST Cancellation
This article examines the idea of GST cancellation and explores the duties that directors and shareholders have in this situation.
Income Tax Department Sends Notices to 22,000 Taxpayers Over Deduction Discrepancies
The Income Tax Department (ITD) has recently sent out notifications to around 22,000 taxpayers, including salaried individuals, high-net-worth individuals, trusts, and Hindu Undivided Families (HUFs).
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