SFT is a mechanism for monitor high-value transactions conducted by Assessee/customer; a significant regulatory measure was introduced with the inception of Form 61A under Section 285BA, effective from April 1, 2004, as per Notification No. 182/2005 dated July 11, 2005.
The Income Tax Department has now upgraded the AIS functionality, allowing taxpayers to track the confirmation status of information reported by sources like banks. This new feature aims to increase transparency by displaying if the source has accepted or rejected feedback on incorrect data in the AIS.
In India, the dairy industry forms an important part of the agricultural sector and plays an important role in the growth of India's economy. Another important area is providing livelihoods to hundreds of people across rural and urban areas.
In this article, we have tried to cover the liability of directors under different laws, i.e., company law, income tax, and GST.
According to Times of India the investor base has seen more than 3x jump in the last five years, facilitated by rapid growth in digitization, rising investor awareness, financial inclusion, and strong market performance.
As we explore the fiscal year 2024 (FY24), it's crucial to understand the intricate tax implications for NRIs to ensure compliance with Indian tax laws and optimize tax efficiency.
As the due dates are not so far to file your Income Tax returns for the FY 23-24, as an individual taxpayer one cannot contribute that much in form of taxes on their earnings.
Section 2(42C) of the Income-tax Act, 1961 (IT Act) defines the term slump sale" as the transfer of one or more undertakings, by any means, for a lump sum consideration without values being assigned to the individual assets and liabilities in such a transfer
Form 26QB is a statement cum challan for the online payment of TDS on property transactions.
Freelance income includes earnings that you generate from completing freelancing tasks. Freelancing is a form of self-employment as you are not hired by the company or placed on its payroll.
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