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The Union budget for FY23 seems to announce the procedure to diminish the tax litigation, increase compliance by keeping an eye on the transactions in a strict way and does work for the target to draw more companies into the formal sector. Inside the procedure beneath acknowledgment are the changes towards the issue resolution policy […]
In the Finance Act, 2021, the Finance Minister has increased the limit for the essential audit under Section 44AB of the Income Tax Act, 1961 to Rs 10 crores, provided that at least 95% of all business transactions are carried out through non-cash / digital modes. The major goal behind this is to diminish the […]
Beneath the policy, those assessees who opted for the newer or another tax regime that is presented in budget 2020 AY 2021-22 the initial time on which they needed to furnish the returns. Towards the concern, the salaried assessee poses an option to switch between the 2 tax regimes during the ITR filing. The current […]
In order to encourage voluntary compliance along with deterring non – compliance, the Annual Information Statement or AIS for specific taxpayers has been made by the income tax department. However, the proper view of a taxpayer’s financial transactions can be given by the AIS. One can get the proper information just by logging and downloading […]
Recently the government has decided to introduce some of the important income tax amendments with the association of the IT department to create a better scenario within the income tax compliance for every individual. Check out some of the important & needful income tax amendments by the CBDT department: Some Categories Gets Pre-filled ITR Council […]
What is a Tax Filing Software? Tax filing software is an end tool to file the tax data on the official government portal which in turn is necessary to fulfil the compliance as per the government. What are the Different Kinds of Tax Filing Software? Every business requires comprehensive best filing software that would make […]
Engineering Export Promotion Council (EEPC) of India ask the union government to extend lower corporate tax advantage to the limited Liability Partnerships (LLPs) and proprietary firms, from executing the action this makes the funds available with MSMEs and enhance the private investment cycle. Direct tax professional council seeks towards the diminishing of the tax upon […]
The assessee is provided with the lower tax refunds concerning their claimed figures towards furnishing the ITR of FY 2023-24. The reason behind that is the latest income tax portal does not acknowledge the full tax credit available in Form 26AS towards these tax return filers. In this situation, the assessee would furnish a rectification […]
Best Tips to Save Tax Without Investment? The income tax department furnished distinct deductions and privileges to the assessee that would get excluded from the taxable income beneath chapter VI A beneath Section 80 to diminish the tax load. Through the help of investment, you would get the deductions, however, there are indeed some deductions […]
