Learn how to navigate disallowances under Section 43B(h) of the Income Tax Act for delayed payments to MSMEs, effective from FY 2023-24, and ensure compliance.
Explore the implications of the Audit Trail under the Companies Act, 2013, effective from 01.04.2023. Understand its significance, reporting requirements, and mutual responsibilities for companies and auditors.
Effective from July 1, 2021, higher TDS/TCS rates apply if the deductee hasnt filed their ITR. Check for compliance and use the CBDT’s reporting portal for verification.
Understand Section 194R TDS implications on benefits or perquisites in business or profession from July 1, 2022. Check our comprehensive guide on compliance, rates, and exemptions. Stay informed to avoid penalties.
It is extremely important now that if a taxpayer having PAN and who is eligible to obtain Aadhaar, links his PAN with Aadhaar on the Income Tax portal, within 31.03.2023 or else he/ she shall be liable to all the consequences under the Act for such failure as stated above, in addition to PAN remaining inoperative.
Due Date for furnishing Statement under ‘Equalisation Levy’ (EL) for FY 2020-21 is 30.06.2021 || Compilation of Complete Provisions For Your Easy Understanding A. Brief Background The Organisation for Economic Co-operation and Development (OECD) through the Base Erosion and Profit Shifting (BEPS) project under Action Plan 1 recommended a final withholding tax on certain payments […]
Understanding TDS under Section 194Q of The Income Tax Act. Learn about the new tax provisions and its impact on businesses.
TDS/ TCS on Non- filers of ITRs at Higher Rates U/s 206AB and 206CCA of the Income Tax Act, 1961 (effective from 01.07.2021). Article contains Analysis of Section 206AB, Analysis of Section 206CCA, Sample format of Declaration To Be Obtained From Parties For Not Imposing Higher TDS/ TCS Rates As Per Section 206AB/ 206CCA of […]
