Income Tax

Securities Transaction Tax (STT) was introduced in the year 2004 Union Budget and came into effect from 1st Oct 2004. […]

Section 40A(2)(b) of the Income Tax Act means that if a taxpayer makes a payment to a related party, they

Appeal is a petition against an order of assessing officer when an assessee is not satisfied with the order of

Form 67 is a declaration containing Statement of income from a country or specified territory outside India and Foreign Tax

Form 71 enable taxpayers in correcting errors in tax deduction at source (TDS). This form is also applicable when TDS

Tax audit limit specifies the threshold for businesses and professionals, beyond the limit must get accounts audited under Section 44AB

Clause 44 of Tax Audit Report in Form 3CD requires auditors to provide a detailed breakup of the total expenditure

Section 271H of IT Act related to penalty if a person fails to file TDS or TCS returns/statements within the

Tax audit applicable if business or profession exceeds certain turnover or income threshold limits. Income tax audits under Section 44AB

F and O – Futures and Options is a non speculative business which are types of financial derivatives used in

Dearness Allowance is the additional payment the Government and Public Sector Entities make to their Employees and Pensioners. The intent

Income tax refund delay occurs due to various factors which may include issues with verification, errors or incorrect information in