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Income Tax Return: Updated Guidelines for ITR Filing

May 21, 2023 9243 Views 2 comments Print

CBDT notified the ITR-1 and ITR-4 forms. However, it is important to note that the Income Tax Department does not issue online forms for ITR filing. Presently, only Excel support has been made available for ITR-1, ITR-2, and ITR-4 forms.

BASL Guidelines- Advertisement Code For Investment Advisers Part-II

May 21, 2023 1803 Views 0 comment Print

Any content that promotes new products/ services/ subscription plans etc. or amounts to solicitation for account opening including brand promotion through RIAs’ website, RIAs own or any other social media platforms.

BASL Guidelines- Advertisement Code For Investment Advisers Part-I

May 21, 2023 2364 Views 0 comment Print

SEBI issued a circular introducing the advertisement code for Investment Advisers and Research Analyst. It went on to specify that the SEBI registered Investment Advisers (RIAs) has to go one step ahead and take approval from BASL before advertising any content.

Inspection Of Goods in Movement – Carry E-Way Bill- Offence & Penalty In Tamil Nadu

May 21, 2023 10512 Views 1 comment Print

Stay informed about E-Way Bill offences and penalties in Tamil Nadu under the GST Act. Understand the various sections, rules, and compliance nuances to ensure a smooth movement of goods.

TCS on Credit Card Payments: Impact on International Transactions & How to Navigate Changes

May 20, 2023 31149 Views 8 comments Print

Navigate the impact of TCS on international credit card payments post-FEMA amendments. Understand LRS, increased TCS rates, and get tips on managing expenses and compliance for seamless overseas transactions. Stay informed to plan your spending wisely.

2,000 Notes Withdrawn: What Should You Do With Your Rs 2,000 Notes?

May 20, 2023 6069 Views 0 comment Print

Discover the reasons behind the Reserve Bank of India’s decision to withdraw Rs 2,000 denomination banknotes. Learn about the Clean Note Policy, legal tender status, depositing/exchanging process, limits, special provisions, and the impact on the economy. Stay informed and navigate the withdrawal seamlessly with this comprehensive guide.

Rs. 2000 Denomination Banknotes- Withdrawal From Circulation, Will Continue As Legal Tender

May 20, 2023 5268 Views 0 comment Print

Discover the impact of the RBIs decision to withdraw ₹2000 denomination banknotes from circulation while maintaining their legal tender status. Learn about the objectives, implications, and guidelines for this move towards a cashless society. Stay informed with the RBI circular and press release issued on 19th May 2023.

Taxability of Receipts under section 68 of Income Tax Act, 1961

May 20, 2023 10629 Views 0 comment Print

Explore the tax implications of receipts under section 68 of the Income Tax Act, 1961. Understand the background, elements, onus of proof, and government actions in dealing with undisclosed income and alleged transactions. Learn about the tax rates and penalties applicable under section 115BBE and 271AAC.

PMLA covers transactions by CA, CS & CMA on behalf of their client

May 20, 2023 6918 Views 0 comment Print

Discover how recent Indian government notifications now include transactions by Chartered Accountants (CA), Company Secretaries (CS), and Cost Accountants (CMA) under the Prevention of Money Laundering Act, 2002. Learn about the expanded scope, definitions, and implications for professionals in combating financial crimes.

DO anything for NATION i.e. DONATION under Income Tax Act, 1961

May 20, 2023 3696 Views 1 comment Print

Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions for claiming them in India.

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