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The Income Tax Department has rolled out new tools to enhance transparency and compliance in recent years. These include the Annual Information Statement (AIS) and the Taxpayer Information Summary (TIS). While they are useful for reducing mismatches between taxpayer disclosures and third-party data, they have their own issues. Taxpayers often face confusion from the mismatched […]
In the present fast-paced world of taxes, it is important to be precise and fulfil the due dates. Manual management of multiple tax forms could not be easier and is prone to errors. TDS software arrives here, which facilitates the entire process. It eases intricated tasks and supports you in filing your returns quickly and […]
A major update has been rolled out by the Income Tax Department for its e-filing portal, proposing that taxpayers have enhanced transparency in faceless assessments and appeals. The same decision is anticipated to carry effective clarity and facilitate tracking for millions of taxpayers in the nation. Taxpayer from this update can see when their submissions […]
An assessment order against a homemaker has been set aside by the Ahmedabad Bench of the Income Tax Appellate Tribunal, which directed the assessing officer to conduct a fresh trial after providing a fair opportunity of being heard. As per the tribunal, the taxpayer did not receive natural justice as she had not obtained proper […]
In a relief to taxpayers, the Central Board of Direct Taxes (CBDT) has once again extended the last date to submit the Income Tax Return. The last date to submit ITR was extended by a day to 16 September, which implies that the ITR due date is today. CBDT, in a statement, has cited that […]
In the domain of enterprise solutions, the sale of software is just the beginning of a thorough relationship with the client. In the tax and compliance sector, where regulatory changes occur frequently and accuracy is crucial, post-sales support is extremely important. SAG Infotech, a leading company in India’s taxation and accounting software market, understands this […]
People are wondering whether the due date of Income Tax Returns (ITRs) and Tax Audit Reports (TAR) for September 15 will be extended by the government. CAs and professionals appealed to the Income Tax Department to permit the extension of the deadline during the peak of the filing season, to have precise and error-free compliance. […]
The Delhi High Court has confirmed that payments by Indian companies to foreign entities for the resale or use of computer software are not classified as royalty. In a significant ruling, Justices V. Kameswar Rao and Vinod Kumar concluded that the Indian entity bears no obligation to tax deducted at source (TDS) in these circumstances. […]
The business can effectively manage its taxes using payroll software, particularly when it comes to TDS (Tax Deducted at Source). The software streamlines tax calculations, manages employee salaries, and handles various deductions. Form 24Q and Form 16 are the types of paperwork that payroll software navigates, sending reminders or automating payments to ensure due dates […]
