TDS Rates and Limits for FY 2022-23 / AY 2023-24
Please find below a pdf file containing the TDS rates and limits applicable for FY 2022-23/ AY 2023-24.
How to deal with the assessment order passed levying huge tax liabilities, interest and penalty?
Huge add-backs in assessment order? An exemption claim not given? Taxes and interest computed erroneously? Should we file an appeal or not? Penalty order received – wondering what to reply? The order passed in not just and fair?
EXTENSION OF TIME LIMITS OF CERTAIN COMPLIANCES UNDER INCOME TAX ACT- REF CIRCULAR NO.9/2021 DATED 20TH MAY 2021.
The Central Board of Direct Taxes, in the exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the
TDS RATES FY 2021-22
Please find below a pdf file containing the TDS rates and limits applicable for FY 2021-22 /AY 2022-23.
Update Your IEC Yearly or face Deactivation
Background The Central Government has amended the rules relating to Importer-Exporter Code (IEC) vide Notification No. 48/2015-2020 dated 12 February 2021. Details of Changes The notification
HUF – Tax Planning Tool
What is Hindu Undivided family? Hindu undivided family (HUF) is a Joint Hindu family with common ancestors. The Hindu Succession Act, defines a HUF, as
Extension of Income Tax filing due date for FY 2019-20
1. The due date for furnishing of Income Tax Returns for taxpayers (including their partners) who are required to get their accounts audited [for whom
Extension of due dates for GST Annual Return and Reconciliation Statement for 2018-19 to 31st December 2020.
Selling a House – Possible tax implications.
A well-planned sale of property could save you from hefty taxes. The first and foremost critical aspect while selling a house to be kept in
How is a private family trust taxed in India
The Indian Trust Act, 1882, governs a Private Trust. Private trust is a vehicle through which property can be transferred from one person (owner) to
Common Accounting Mistakes Made By Startups
1. Negligent Accounting Practices Most entrepreneurs will admit that they are not expert accountants. Yet, these same entrepreneurs try to handle their finances in house.
TCS on sale of Goods- Section 206C(1H) w.e.f. from 1st October 2020
The new section 206C(1H) of the Income Tax Act, 1961 has been introduced by the Finance Act, 2020 for Tax Collection at Source(TCS) on sale