income tax
Startups
How to Create a Successful Partnership Agreement for Your Startup
Starting a prosperous business is rarely a solo endeavour - most flourishing startups are built on strong partnerships. Whether you're joining forces with a co-founder, bringing on an investor, or forming a strategic alliance,...
Income Tax
Taxpayer’s Delight: Clearing Small Demands, Easing Burdens!
On 1st February 2024, Finance Minister Nirmala Sitharaman announced during the interim budget the waiver of small outstanding demand under the Income Tax Act, 1961, Wealth Tax Act, 1957 or Gift Tax Act, 1958. The Income Tax department...
Income Tax
Section 43B: What’s New and Why It Matters & Impact on MSME Payments.
To promote timely payments to micro and small enterprises, payments made to such enterprises have been included within the ambit of section 43B of the Act vide FA 2023. A new clause (h) has...
Income Tax
CBDT Announces Extension of Due Dates for various e-filing forms
A big relief to the taxpayers has been provided by the finance ministry to the taxpayers by extending the due dates. It was much needed as the new portal has a lot of glitches...
Income Tax
Due Date Calendar for June’2021
A) Due dates for Compliance under Income Tax
7 June 2021 - Due date for deposit of Tax deducted/collected for the month of May, 2021. However, all sum deducted/collected by an office of the government...
Income Tax
Do You Really Need Professional’s Help While Filing Your ITR?
When March approaches every year, we tend to focus on few compliances that we never thought of during the whole year and filing your ITR and the confusion of discussing it with professionals or...
Income Tax
FAQ’s for seek VC and seek VC adjournment for appearing in e-proceeding.
What is VC?
VC stands for ‘Video Conferencing’. Using the VC facility, an assessee is enabled to express or submit one’s response orally before an Income Tax Authority who has initiated the proceeding and expect the response...
Income Tax
Section 115BAA – New tax rate of 22% on domestic Companies
The new section – Section 115BAA has been inserted in the Income Tax Act,1961 to give the benefit of a reduced corporate tax rate for domestic companies.
Section 115BAA states that domestic companies have the...
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