April Deadline Navigate the choice between new and old income tax regimes for the financial year 2023-24. Understand changes, exemptions, and plan your tax strategy wisely. Expert insights from a Chartered Accountant with two decades of experience. Source: Finance Act 2023-24, Tax Planning, Indian Income Tax Rules.
NRI taxation under the Indian Income Tax Act, of 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians.
Section 68 talks about the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount as may be prescribed to carry with him such documents and such devices as may be prescribed.
Discover insights into Section 148A of the Income Tax Act, 1961, addressing notices for non-furnishing of income tax return, report, or statement. Stay informed about the legal implications, penalties, and important case laws. Source: Finance Act 2021, Legal Analysis.
To doing business or start business with the tag of OPC is now very common these days due to less compliance and easy to establish but when the business start grows, company want to expand its identity with more effective and legally term. Now the OPC company has an option under companies act 2013 to move forward for convert itself, voluntary into Private Limited/Limited.
OPCs are required to file two annual forms, namely MGT 7A and AOC 4, every year. It’s important to understand what these forms are and their respective due dates for OPC Annual Filing.
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
Discover what a balance sheet is and how its constructed. Learn how this vital financial statement provides insights into a company’s assets, liabilities, and equity, offering a snapshot of its financial health and performance. Source: Financial Reporting Standards
Understand RBI’s recent Master Direction on Outsourcing of Information Technology Services effective from October 1, 2023. Explore key requirements, risk management, and compliance measures for a seamless IT outsourcing strategy. Stay informed with a comprehensive summary. Source: RBI Guidelines, 2023.
Unlock the secrets of filing Income Tax Returns for the last 3 years. Understand Section 139 of the Income Tax Act, 1961. Explore the opportunity provided by Section 139 (8A) to file pending ITRs. Know the limitations and exclusions. Get answers to FAQs about filing updated tax returns. Stay informed to avoid penalties and financial consequences. Source: Income Tax Act, 1961.
