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Budget 2024: Revised Penalty Timeline for TDS/TCS Statements

July 26, 2024 3357 Views 0 comment Print

Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025.

Section 271GC: Penalty for Liaison Offices’ Failure to Submit Statements for Non-Residents in India

July 26, 2024 1650 Views 0 comment Print

Budget 2024 introduces new deadlines and penalties for non-resident liaison offices in India. Amendments effective April 2025.

Budget 2024: New TDS/TCS Correction Statement Deadline

July 26, 2024 7332 Views 0 comment Print

Budget 2024 introduces a six-year limit for filing TDS/TCS correction statements. Amendments to sections 200 and 206C will be effective from April 2025.

Budget 2024: TPO can evaluate SDTs not reported by taxpayers

July 26, 2024 1155 Views 0 comment Print

From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and compliance with new regulations.

Aadhaar Enrolment ID Quoting in PAN Application to End from October 2024

July 26, 2024 1107 Views 0 comment Print

Starting October 2024, Aadhaar Enrolment ID can no longer be used for PAN applications or income returns. Quoting Aadhaar numbers becomes mandatory to prevent misuse.

Budget 2024: Advance Ruling Applications withdrawal allowed by October 31, 2024

July 26, 2024 1950 Views 0 comment Print

From October 2024, applicants can withdraw advance ruling requests pending with the Board for Advance Rulings by October 31. Final decisions due by December 31, 2024.

SEBI Consultation Paper: Draft Amendment to Para 15 of CRA Master Circular

July 25, 2024 882 Views 0 comment Print

SEBI invites public comments on amendments to the CRA Master Circular. Share your views on the definition of technical defaults by August 15, 2024.

All about Direct Tax Vivad se Vishwas Scheme 2024 proposed in Budget 2024

July 25, 2024 6243 Views 0 comment Print

Explore the Direct Tax Vivad se Vishwas Scheme 2024 for resolving pending tax disputes. Learn about its provisions, benefits, and implementation details.

Budget 2024: 2% Levy on E-commerce Transactions Ends August 1, 2024

July 25, 2024 1932 Views 0 comment Print

Key changes to Equalisation Levy from August 2024: the 2% tax on e-commerce transactions will be removed. Learn about the new provisions and their impact.

Budget 2024 amends penalty for Undisclosed Foreign Income & Assets in ITR

July 25, 2024 4626 Views 0 comment Print

New amendments to the Black Money Act from October 2024 raise the exemption threshold for penalties on foreign assets to ₹20 lakh. Discover the key changes.

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