Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the Income Tax Department this Sunday requesting them to verify the HRA claims for the past three years because no TDS on rent payments has been made by the assesse u/s 194IB.
Key areas for Bank Branch Audit 2024-25, covering statutory reports, loan audits, NPA guidelines, compliance, cyber fraud impacts, and financial reconciliations.
Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find out the right steps to take.
Understand amendments in Section 200(3) of the Income Tax Act, effective via Finance Act 2024, impacting TDS correction deadlines and processes.
Ensure GST compliance before March 2025 ends. Update billing, file LUT, reconcile ITC, and opt for schemes. Avoid penalties and litigation in FY 2025-26.
Appointment of other officer such as CTO, COO, and CMO as Key Managerial Personnel (KMP) under Companies Act, 2013 – Key Considerations Under the Companies Act, 2013, certain roles are defined as Key Managerial Personnel (KMP) to ensure effective governance and compliance. While the Act explicitly identifies positions such as Managing Director (MD), Chief Executive […]
Latest GST advisories, compliance deadlines, and updates on tax evasion and insurance-related GST policies for March 2025. Key actions for taxpayers included.
Analysis of India’s taxation policies since 2016, covering demonetization, GST, indirect tax hikes, and their impact on businesses, jobs, and economic stability.
If you’re planning to invest in stocks, mutual funds, or other financial instruments, a demat account is a must. It’s the digital wallet that holds your investments securely, eliminating the need for physical share certificates. But with so many options available, how do you decide which demat account provider is best for you?
Section 128A of the Central Goods and Services Tax (CGST) Act introduces an amnesty scheme aimed at resolving pending GST disputes by waiving interest and penalties for specific tax periods, provided certain conditions are met. To avail of this waiver, taxpayers must utilize the prescribed forms: SPL-01 and SPL-02. Overview of Section 128A Section 128A […]
