This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also clarifies the role of Form 15CA/15CB in remittance compliance.
The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for profits below 6%. It concludes that compliance should continue to depend on the conditions and turnover limits under Sections 62 and 63.
Transfer pricing principles dictate that a captive, risk-mitigated service provider could not be benchmarked against full-fledged, risk-bearing entrepreneurs, companies owning substantial intellectual property, or those generating revenue through software products.
This guide explains the tax deductions, TDS relief, advance tax exemption, and return filing benefits available to senior and super senior citizens under the Income-tax Act. It highlights the key concessions available to eligible taxpayers.
This guide explains the tax exemptions available to Armed Forces personnel under Section 10(14) for serving in difficult, high-risk, and remote locations. It outlines the exemption limits and eligibility conditions for each allowance.
CBDT has notified tax exemption for specified income of the Mussoorie Dehradun Development Authority under section 10(46). The notification prescribes eligibility conditions and grants retrospective benefit for AYs 2022-23 and 2023-24.
This guide explains the tax exemptions, concessional tax rates, presumptive taxation schemes, and compliance benefits available to non-residents and foreign companies under the Income-tax Act. It serves as a comprehensive reference for AY 2026-27.
This guide explains the exclusive tax benefits, deductions, exemptions, concessional tax regimes, and compliance relief available to resident persons and Indian companies under the Income-tax Act. It provides a comprehensive reference for AY 2026-27.
ICAI Warns CAs Against Extremely Low Fee Quotes in Tenders; Matter May Be Referred for Disciplinary Action The Professional Development Committee of the Institute of Chartered Accountants of India (ICAI) has issued an important announcement dated 2 July 2026 regarding the quoting of professional fees by Chartered Accountants and CA firms in tenders. The announcement […]
This guide explains the tax benefits, deductions, presumptive taxation schemes, and compliance relaxations available to small businessmen under the Income-tax Act. It provides a practical overview of the provisions applicable for AY 2026-27.
