Penalty Under Section 234F of the Income Tax Act, 1961: A Detailed Insight The Income Tax Act of 1961 serves as the foundation for tax compliance in India, detailing the rules and regulations for the filing of returns and the […]
Software based ITR filing V/S ITR filing by consultant- What is advisable and why? Income Tax Return Filing Income Tax Return is an important task and a duty which needs the utmost precision and care. Especially when there are different […]
ITR filing for FY 2019-20- Know when to file Company ITR and audit reports. Important due dates you cannot afford to miss Important Update- Due date for Income Tax Return Filing has been extended The due date for filing Income […]
Verification of Income Tax Return Income Tax Return Verification Once you file an Income Tax Returns, it is mandatory to verify the same within 120 days from the date of filing the returns. In case one does not verify the […]
Components to include in Director’s Salary Structure to reduce tax burden- Tax planning for the Director & Company. As a law-abiding citizen, it is a moral duty to pay the taxes which are a fee charged by the government on […]
Unique Document Identification Number (UDIN) – Frequently asked questions The UDIN (Unique Document Identification Number) is an initiative taken by ICAI in an effort to curb misrepresentation by third persons posing as Chartered Accountants who forge signatures on documents to […]
Amendments in Form 26AS- Income Tax Passbook What is Form 26AS? Every individual or company that has deducted taxes must credit that amount to the government via banks. Form 26AS is an annual consolidated tax statement generated by the Income […]
Tax Audit under section 44AB of IT Act Important Update on Tax Audit Utility (XML) Schema with regards to Form 3CD and Form 3CEB As per the Notification issued by the CBDT on 1.10.2020, the Income Tax (22nd Amendment) […]
Extension of due date of income tax return filing for 2018-19 Important Due date alert Last date of filing of ITR for FY 2018-19 was 31st July 2019 for persons who are not required to get their accounts audited. For […]
