Can You Change the Tax Regime When Filing Your Income Tax Return?
As the Income Tax Return filing deadline nears, you might be wondering if you can switch between the old and new tax regimes while filing your returns. The answer is…
As the Income Tax Return filing deadline nears, you might be wondering if you can switch between the old and new tax regimes while filing your returns. The answer is…
Filing your Income Tax Return (ITR) correctly is crucial, and understanding which form to use can make the process easier. Here's a simple guide on the types of ITR Form…
Hello Folks!!!Today, we are going to discuss about the Section 10 of Income Tax Act,The Government of India offers various exemptions to help reduce your income tax burden. Section 10…
What is a Private Limited Company? A private limited company is a business structure typically used by small businesses. In this format, ownership is restricted to a limited number of…
Valuation ReportA Valuation Certificate is an essential document that determines the value of a company or an asset. It is provided by a certified valuer after performing a detailed valuation.…
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples Profits or gains resulting from the sale or transfer of capital assets, including property, shares, bonds, and vehicles, are…
What is Section 115BAC – The New Tax Regime? Section 115BAC, introduced in the Budget 2020, established a new tax regime effective from FY 2020-21 (AY 2021-22). This regime offers…
Relief Under Section 89(1) of the Income Tax ActSection 89(1) of the Income Tax Act provides relief for income received in arrears or in advance due to changes in taxation…
Form PAS-6: Reconciliation of Share Capital Audit ReportForm PAS-6 is a half-yearly report required from unlisted public companies, detailing changes and status of share capital. This form must be submitted…
The Form 26QB correction online process is crucial for property buyers who file TDS under Section 194-IA. With the enhanced TRACES Form 26QB amendment tool, taxpayers can easily rectify submission…
Advance Tax Under Income Tax Act, 1961 Learn about Advance Tax according to the Income Tax Act, 1961. Understand compliance procedures, methods for revising income estimates, key deadlines, exemption criteria,…
For years, F&O traders faced tax audits simply because their turnover exceeded ₹10 Crore. This was due to the formula used for calculating trading turnover, which included option premiums, often…
You can cancel your GST registration if your business is no longer subject to GST rules, you are closing down your business, or if a tax officer initiates the cancellation.…
Leave Encashment - Tax Exemption, Calculation & Formula With Example, Rules Have you heard of the term ‘leave encashment’? Leave encashment is a familiar concept among salaried individuals, allowing employees…