This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic payment compliance. It also highlights the statutory thresholds, exceptions, and penalties for various defaults.

This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related transactions. It serves as a consolidated reference for ICDS compliance under the Income-tax Act.

This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the applicable penalty amounts for different types of tax defaults and compliance failures.

The FAQs clarify the implementation of the IFSCA AML/CFT/KYC Guidelines, covering customer due diligence, reporting obligations, governance requirements, and regulatory compliance for IFSC entities.

The FAQs clarify that OPCs and Small Companies are governed primarily by Rule 8A for Board’s Report disclosures instead of the detailed requirements under Rule 8. They also explain the continuing applicability of Section 134(3) where no specific exemption exists.