"Full time Practicing CA in KLN & Co Chartered Accountants, Visakhapatnam."
Most income tax notices involve minor mismatches or routine verification and can be resolved by submitting clarifications or documents. Key takeaway: timely response avoids unnecessary stress.
Explains why returns get shifted to the Old Regime due to missed deadlines or form errors and outlines when rectification is possible.
Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and deductions under NPS & savings schemes.
Discover the benefits of filing the Updated Return u/s 139(8A) under the Income Tax Act. Learn about the eligibility and conditions for submitting the Updated Return and avoid tax uncertainties.
Section 194Q: TDS on purchase of goods: -Applicable to the Buyer whose Turnover/Gross Receipts in the preceeding Financial year exceeds 10Cr. and aggregate amount of purchases from such particular buyer exceeds Rs.50L. -TDS is required to be deducted @1% on the amount exceeding Rs.50L (The threshold limit of Rs.50L is to be reckoned from the […]
Changes under Income Tax – Union Budget 2021: 1. No Changes in Income Tax Slab rates. 2. Income Tax Return need not be filed by Senior citizens provided that: He is Resident of India and of the age 75 years or more during the previous year He has only Pension and/or Interest Income He shall […]
