Section 122A: Penalty for Unregistered Machines from 1 Oct 2024
Section 122A was introduced by the Finance Act, 2024 and will come into effect from 1st October 2024. Purpose Section […]
Securities Transaction Tax: Rate Hikes on F&O w.e.f 1st October 24
Securities Transaction Tax (STT) was introduced in the year 2004 Union Budget and came into effect from 1st Oct 2004.
Appeal Under Income Tax : CBDT’s Revised Thresholds for Faster Resolutions
Appeal is a petition against an order of assessing officer when an assessee is not satisfied with the order of
Health Insurance For Senior Citizens: Coverage for Age above 70
Health insurance for senior citizens provides medical coverage to individuals which covers pre- and post-hospitalization expenses, daycare procedures, and sometimes
Form 71: TDS Claim in the Correct Tax Year
Form 71 enable taxpayers in correcting errors in tax deduction at source (TDS). This form is also applicable when TDS
Section 271H of IT Act: New Rules to TDS/TCS Filing Penalties
Section 271H of IT Act related to penalty if a person fails to file TDS or TCS returns/statements within the
F and O: Taxation for Futures & Options Traders
F and O – Futures and Options is a non speculative business which are types of financial derivatives used in
Income Tax Refund Delay: Common Reasons and Solutions
Income tax refund delay occurs due to various factors which may include issues with verification, errors or incorrect information in
Domicile Certificate: Purpose and Application Procedure
Domicile certificate is a proof of an individual that he/she is permanent residence in a particular state or union territory
Section 44ADA of Income Tax Act: Taxation for Professionals
Section 44ADA of Income Tax Act means estimating the income of an assessee who is engaged in any profession referred
Reverse Charge Mechanism: New Statement for Accurate Filing
Reverse Charge Mechanism means the liability to pay tax is on the recipient (Purchaser) of supply of goods or services
Unified Pension Scheme (UPS): New Era in Retirement Benefits
Unified Pension Scheme (UPS) is an important initiative announced on 24th August 2024 by the Narendra Modi government to provide