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NRIs (non-resident Indians) are Indian citizens who reside outside of India yet still have close ties to the country. They must pay taxes and submit their income tax returns if they plan to keep earning money in this nation. This important article will give you information about taxable income with income tax return filing conditions […]
Under section 10(46) of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) notified the Income Tax exemption to the Insolvency and Bankruptcy Board of India (IBBI). As per section 10(46), certain income accruing to anybody, authority, board, trust, commission (or a class thereof) that was established or created in accordance with […]
Governments all throughout the world deal with the serious problem of tax evasion. From the beginning of the liberalization and globalization of the Indian economy, it has grown more and more typical in India. Any action intended to conceal, understate, or fraudulently report income to reduce one’s tax burden is referred to as tax evasion. […]
Tax deducted at Source (TDS) and Tax Collected at Source (TCS) are the most popular methods of tax collection. To guarantee correct adherence to the tax regulations, it is crucial to recognise the difference between TDS and TCS under the Income Tax Act 1961, since these are some big ones. Let’s get into it in […]
What is an Email Functionality? Email functionality refers to the features and capabilities of email systems that allow users to send, receive, and manage email messages. Genius Software E-mail/WhatsApp Functionality Genius software is a comprehensive tool that streamlines and enhances business operations. One of its main features is its email functionality, which offers several tools […]
In a recent decision, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) found that a 7-day delay in filing an appeal might be excused since the CA was preoccupied with income tax and GST compliance. Chennai ITAT has made the observation, when appeals were preferred to it by the taxpayer, as against the […]
The disallowance under Section 14A of the Income Tax Act does not warrant when there is no earned of an exempted income, as per the Delhi Bench of the Income Tax Appellate Tribunal (ITAT). Section 14A predicts that there must be an actual receipt of income as seen by the two-member bench of Anubhav Sharma […]
The problem of GST on the leased land affecting the Ministry of Micro, Small & Medium Enterprises across India, it is been requested by the Chamber of Small Industries Association (COSIA) to the government to think again about the same issue. President of COSIA Sandeep Parekh stated that the GST department has laid the industry […]
A top official stated on Monday that India would not change its Goods and Services Tax (GST) regime in the upcoming fiscal year, delaying a move that has been considered for more than a year to streamline its tax system and lessen the burden on consumers. The GST, which was adopted in 2017 and unifies […]
