The Direct Tax Vivad Se Vishwas Scheme 2024 offers a platform for taxpayers to resolve tax disputes and reduce their financial liabilities. Learn about the key features, benefits, eligibility criteria, and how to participate in this scheme.

This blog article gives a full summary of the Annual Information Statement (AIS) and Tax Information Summary (TIS) for Assessment Year 2024-25. It describes the important improvements and modifications implemented by the Income Tax Department, such as additional information fields and enhanced accuracy. The site also teaches readers how to obtain AIS/TIS, comprehend its importance, and use it efficiently for proper income tax reporting.

This blog offers a thorough examination of Section 40 of the Income Tax Act of 1961, with an emphasis on the costs that companies and professions can deduct. Important clauses are outlined in it, such as payments to residents and non-residents, TDS obligations, and restrictions on director and partner salaries. Emphasis is placed on the necessity of compliance as well as the possible repercussions of non-compliance, including higher tax liabilities and prohibited costs. With the help of this thorough tutorial, taxpayers should be able to handle the complexity of Section 40 and keep proper tax records.

Parents and guardians can contribute to a pension account for their children's future through the NPS Vatsalya Scheme, a pension plan specifically for minors. The features, advantages, and investment alternatives of the program are all covered in detail in this thorough book, which makes it a must-read for anybody hoping to protect their child's finances.

This blog post offers a condensed explanation of the new TDS rates, which go into effect on October 1, 2024, along with lower tax deduction rates for certain kinds of payments. In order to assure compliance with the updated tax legislation, it assists businesses and taxpayers in comprehending the ramifications of the changed TDS rates and making wise judgments.

Long-term capital gains are excluded from tax under Section 54F of the Income Tax Act if the profits are reinvested in residential real estate. This blog serves as a helpful resource for individuals and HUFs wishing to reduce their real estate investment taxes by outlining the exemption's goals, qualifying requirements, categories of assets covered, and the sequential application procedure.

This blog post provides a comprehensive guide to the TDS CPC Notice under Section 200A of the Income Tax Act, 1961, explaining the contents of the notice, the procedure for responding to the notice and the consequences of non-response. The article is intended to help taxpayers understand this important tax provision and take the necessary steps to avoid legal action.

This blog provides a comprehensive analysis of the 28% Goods and Services Tax (GST) levied on online gambling in India. It examines the impact of the high tax rate on players, the growth of the industry, tax evasion and social issues. The blog also discusses the government's rationale for the 28% GST and the potential challenges it poses for the industry.

This blog post explores the nuances of indexation benefits for Non-Resident Indians (NRIs) in India, highlighting the differences between residents and NRIs, and providing guidance on how to plan investments to minimize tax liability.

The One-Time Settlement (OTS) program is designed to assist property taxaulters by enabling them to pay their overdue tax in installments. This detailed guide outlines the advantages, requirements, and application steps of the OTS program, assisting property owners understanding how to utilize this and evade legal repercussions.

The income tax audit process for FY 2023-24 can be challenging, but with the right preparation, businesses and individuals can manage it effectively. This blog explores who is required to undergo an audit, how to prepare by gathering essential documents like Form 16 and Form 26AS, and the steps involved in the audit process. Engaging a Chartered Accountant (CA) is key to ensuring compliance with tax regulations. The audit process also provides opportunities for improving financial record-keeping, tax planning, and dispute resolution. This guide offers insights into navigating the audit process confidently.

For refunds above Rs. 50 crore, non-individual entities such as businesses, partnerships, and trusts are required by the Reserve Bank of India (RBI) to get a Legal Entity Identifier (LEI). The objectives of this action are to improve worldwide compliance, risk management, and financial transparency. Financial firms and regulators may track significant financial transactions with the use of the LEI, a 20-character alphanumeric number. The RBI's announcement, how to get an LEI, and how it affects non-individual companies are all explained in this blog.