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One should disclose capital gains or losses while filing Income Tax Return regardless of the amount gained or lost. So what is capital gain, and how can on...
Recently the Taxation Laws (Amendment) Bill 2021 was passed in the parliament, which intends to do away with retrospective tax provision and end retrospect...
Taxpayers must be cognizant of the repercussions of underreporting income or overstating deductions and exemptions when completing an income tax return. Ac...
In a recent case, an assessee was issued show cause notice on 19th April 2021, giving him the opportunity to file a response by 21st April. The assessee re...
Under Section 147 of Income Tax Act, the Income Tax Department has the power to reassess previously filed income tax return of an individual. The Assessing...
Advance ruling was conceived with a view to provide certainty to business as opposed to litigation in reference to a proposed transaction. Earlier advance...
Assessment of Income as per section 143(3) read with section 153A, must have nexus to the Incriminating Material (IM), if any, found during the course of s...
The Finance Act 2021 inserted a new section to provide relief to the senior citizens who is 75 years of age or more from the burden of filing the return......
With the rising inflation rates and various other economic factors, wealthy Americans are incre...
Before approaching the new suppliers or any other third parties, you should always go for the v...
With the increasing landscape of Fintech Companies, it is increasingly vital that fintech compl...
This blog gives a detailed description through an audit report for industrial waste by examinin...
On 1st March 2024, the IRDAI came up with a notification via F. No. IRDAI/Reg/5/199/2024 for Bi...
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