Understand the concept of presumptive taxation scheme, its eligibility criteria, and implications for taxpayers. Learn about different sections under Income-tax Act, such as 44AD, 44ADA, and 44AE, and how they provide relief to small taxpayers.
Understand the recent buzz around the 20% Tax Collection at Source (TCS) on international credit card usage in India. Analyze the relevant provisions, background, and implications of the changes in TCS rates and the Liberalised Remittance Scheme (LRS). Learn about the government’s relief measures and the credit availability of TCS.
Clubbing of income means Income of other person included in assessees total income, for example: Income of husband which is shown to be the income of his wife is clubbed in the income of Husband and is taxable in the hands of the husband. Under the Income Tax Act a person has to pay taxes on his income.
section 17 of the Income-tax Act defines the term salary. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary.
1) Whether capitalization of interest payable attracts TDS U/S 194A? Whether conversion of out standing interest on loan into loan attracts TDS? Difference between Form-15G and Form-15H? Difference between TDS and TCS? What is due date for remittance of TDS certificates? (Form-16 and Form-16A)
Comprehensive analysis of audit lapses leading to significant NFRA-imposed penalty on CA Devang Dalal and M H Dalal & Associates, setting a precedent in corporate financial accountability.
Provisional empanelment status of the firm along with provisional point score for the year 2023-2024 will be available on the website www.care.cag.gov.in from 30th May 2023 to 8th June 2023.
Central Board of Direct Taxes extends deadline for submitting Q1 TDS/TCS statements for the financial year 2023-24 until September 30, 2023.
Have questions about income tax payment? Read this article to find answers to frequently asked questions about income tax, including payment deadlines, income classification, gross total income, deductions, tax liability computation, and more.
New to filing income tax returns? Explore FAQs covering income tax basics, administrative framework, tax rates, receipts, exemptions, record-keeping, professions, and more. Ensure compliance and understanding of India’s income tax regulations.
