In today's interconnected global economy, entrepreneurs are increasingly expanding their businesses across international borders. However, along with the opportunities come challenges, one of which is navigating the complex realm of taxation. Double taxation, wherein...
Inheritance Tax, often dubbed as the "Death Tax," is a levy imposed on the transfer of assets from a deceased individual to their heirs or beneficiaries. The Inheritance Tax serves two main purposes. First,...
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,...
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...
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...
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...
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...
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...