Income Tax : Learn the differences between TDS and Advance Tax, their applicability, payment schedules, penalties, and tax planning tips to ens...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Section 44ADA of Income Tax Act, 1961 offers a presumptive taxation scheme for professionals, simplifying tax compliance by allowi...
Income Tax : Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at...
Income Tax : Learn how Presumptive Taxation under Section 44ADA helps Indian freelancers with simplified compliance, tax relief on foreign inco...
CA, CS, CMA : There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the appli...
CA, CS, CMA : ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audi...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
Income Tax : Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA asses...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : ITAT Mumbai rules that income earned from a consultancy business, even with TDS deductions, should not be taxed under Section 44AD...
Income Tax : ITAT Mumbai rules in favor of a production supervisor, declaring no illegality in adopting presumptive tax under section 44AD. Ful...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
All about interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act, including when it is charged, rates, and calculation periods.
Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA assessment found erroneous.
Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.
Learn about the new Section 194T, its implications on TDS for partners’ remuneration, and the interplay with Section 40(b) from the latest budget amendment.
Learn about the Madras High Court’s landmark ruling quashing an income tax reassessment notice for a medical professional under Section 44ADA. Find out why proper classification of professional services is crucial.
Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sections 44AD, 44ADA, and 44AE of the Income Tax Act. These sections, aimed at simplifying tax compliance for certain taxpayers, face scrutiny for their applicability, concessions, and implications on business operations. WHETHER THE PROBLEMS IN THE PRESUMPTIVE TAXATION WILL […]
Navigate moonlighting taxes efficiently. Learn how to file ITR, manage extra income, and avoid penalties in our comprehensive guide for moonlighters in India.
Explore the recent amendment to Section 43B of the Income Tax Act aimed at bolstering the financial well-being of MSMEs through timely payments and tax deductions.
Discover the intricacies of Income Tax Returns (ITR) in India, from types of forms to required documents and compliance measures, ensuring smooth tax filing.
Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal consequences. Learn how to mitigate tax non-compliance and optimize financial management.
