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 […]
GST on Flex Fuel Vehicles: Call for Lower GST to Propel Bio-energy Growth
GST on flex fuel vehicles shall reduce to 12% suggested by the Union Minister Nitin Gadkari to promote their use.
Tax Audit Applicability: Criteria and Thresholds You Should Know
Tax audit applicable if business or profession exceeds certain turnover or income threshold limits. Income tax audits under Section 44AB
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
Dearness Allowance: Central Government Proposes 3% DA Hike
Dearness Allowance is the additional payment the Government and Public Sector Entities make to their Employees and Pensioners. The intent
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
Section 44AB of Income Tax Act: Threshold Limits and Applicability
Section 44AB of Income Tax Act means when a person is engaged in business is required to maintain regular books
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
ITR Processing Time: Why It Is Still Showing Under Processing
ITR processing time means the duration it takes after the return has been filed. After ITR has been filed, the