Income Tax

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

Section 44ADA of Income Tax Act means estimating the income of an assessee who is engaged in any profession referred

Section 44AB of Income Tax Act means when a person is engaged in business is required to maintain regular books

Unified Pension Scheme (UPS) is an important initiative announced on 24th August 2024 by the Narendra Modi government to provide

ITR processing time means the duration it takes after the return has been filed. After ITR has been filed, the

Section 43B(h) of Income Tax Act Finance Act 2023 inserted a new provision u/s 43B i.e., clause (h) which states