Excessive credit card spending may attract tax notices. Learn how to manage credit card transactions to avoid scrutiny and ensure compliance with tax regulations.
The recent changes in the ITR filing utilities have created significant challenges for taxpayers eligible for the section 87A rebate. The Ministry of Finance needs to address this issue promptly to ensure fair and accurate tax assessments and avoid unnecessary disputes.
Explore the amendments to Section 115BAC of the Income Tax Act, 1961, and the implications of the new tax regime from AY 2024-25. Understand your options, consequences, and strategies for tax filing.
In this comprehensive article, we will delve into these issues, conduct a root cause analysis, and propose resolutions to empower taxpayers and tax professionals to address these challenges effectively.
In this article, we’ll delve into the critical realms of freelancing income tax, accounting, and GST, offering insights, strategies, and practical tips to help freelancers navigate these often intricate waters with confidence.
If a person is eligible to obtain an Aadhar Card, it is mandatory to link it with the PAN card. Although, NRIs are not required to obtain an Aadhar and accordingly, not required to link their PAN with Aadhar, but the Income Tax Department has mandated that NRIs have to update the income tax portal on their residential status as ‘Non Residents’.
Discover effective ways to save income tax on your salary beyond 80C, 80D & HRA. Explore tax regime options, flexi benefit plans, NPS benefits, and tax-saving for EMIs.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
This article summarizes Income Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various categories of Persons viz. Individuals (Resident & Non Resident), HUF, Firms/LLP, Companies, Co-operative Society, Local Authority, AOP, BOI, artificial juridical persons for income liable to tax in the Financial Year 2023-24 (Assessment Year 2024-25) as proposed in Finance Bill, 2023
TDS Rate Chart for FY 2022-2023 (AY 2023-2024) including Budget 2022 Amendments Tax Deduction at Source (TDS) is one of the important compliances for Income Tax Assessee. There are various sections in Income Tax Law, which specify different TDS rates, nature of payment & its threshold limits for TDS. Every year when the Budget is […]
