Compliance Calendar July 2025
Spread the love Compliance Calendar July 2025 compiles the compliances for the month of July 2025 as per Income Tax, GST , PF and ESI. Compliances as per Income Tax […]
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Penalties Leviable under Income Tax Act,1961
Spread the love Introduction Every assessee who commits a default under the Income Tax Act is liable to face penalties as prescribed under various provisions. Depending on the nature and
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CBDT Circular No. 07/2025: Time Limit Relaxation for Processing Condoned ITRs
CBDT relaxes the time limit for processing valid income tax returns filed with condonation u/s 119(2)(b). Refunds can now be processed by 31st March 2026.
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Free Download: Model Notes to Accounts for Level IV Non-Corporate Entities
Download a professionally drafted Notes to Accounts template for Level IV non-corporate entities including firms, trusts, and societies. Fully compliant with ICAI’s Guidance Note on financial statements of non-company entities
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Presumptive Taxation – Section 44AE
Spread the love Introduction Section 44AE of the Income Tax Act is a presumptive taxation scheme introduced to simplify the income tax compliance for small transport owners. This section is
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Presumptive Taxation – Section 44ADA
Spread the love Introduction Section 44ADA of the Income Tax Act is a presumptive taxation scheme designed specifically for resident individual professionals to simplify their tax compliance . Under section
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Presumptive Taxation – Section 44AD
Spread the love What is section 44AD? Section 44AD of the Income Tax Act is a presumptive taxation scheme introduced to help small taxpayers to simplify their tax compliance. It
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Bonus Shares and Taxes: Decoding Section 56(2)(x)
Spread the love Imagine you’re a shareholder, and your company hands you a gift. Bonus issue of shares, free of charge. It feels like striking gold! But then a question
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Disclosure of Foreign Assets in Income Tax Return: Requirements, Consequences, and Recent Amendments to the Black Money Act
Spread the love The disclosure of foreign assets and income in Income Tax Returns (ITR) is a critical requirement for Indian residents to ensure compliance with tax laws and promote
Advance Tax – Who needs to pay & How to pay?
Spread the love What is Advance Tax Advance Tax is the payment of tax in advance during the financial year in order to avoid lumpsum payments at the end of
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