Taxation

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Startup Taxation

Tax Entailments in Liquidation of Company

Tax Entailments in Liquidation of Company

Introduction There are many types of tax implications that occur during the liquidation process of the Company, be it solvent, insolvent, or company liquid...

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Income Tax Taxation

Minimum Alternate Tax (MAT) – A Complete Overview...

Minimum-Alternate-Tax

What is Minimum Alternate Tax (MAT)? Minimum Alternate Tax (MAT) is a provision introduced in indirect tax laws to limit various tax concessions and other...

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Income Tax Taxation

Consequences of Late ITR Filing

Late-ITR-Filing-Consequences

The government gives 4 months to its citizens to file their Income Tax Returns every Assessment Year. ITR filing is an easy and online process, so the time...

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Income Tax Taxation

What is the Tax Residency Certificate & How to get...

What is the Tax Residency Certificate & How to get it?

A Tax Residency Certificate is an official declaration of a non-resident's ability to file taxes in their home nation, provided by those authorities. It ma...

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Income Tax Taxation

IT Department acknowledges an error in charging late IT...

Error in charging late ITR filing

The Income Tax Department admits an inadvertent error in processing ITR filing of partners of firms. If a late ITR filing fee has been charged by error, th...

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Income Tax Taxation

TDS Return Revision in case of PAN Error Notice from De...

Revision-of-TDS-return

Introduction- At the time of submitting the TDS return a very common error that occurs is that the PAN of the applicant entered wrongly, which as a result...

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Income Tax Taxation

TCS – A Tax collected at source and its Rates...

TCS A-Tax-collected-at-source-and-its-Rates

TCS stands for Tax Collected at Source and, it is the tax payable by a seller which the seller collects from the buyer at the time of sale. Section 206C......

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Income Tax Taxation

Notice for Demand under section 156

Notice-for-Demand-under-section-156

The Income-tax Department checks the income declared and tax paid by the person with the details available with them. As per the Income-tax Act 1961, if th...

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