The Central Board of Direct Taxes under the Income Tax department has notified fresh guidelines in connection with the applicability of a new TDS provision related to receiving benefits in a business or profession.
Read MoreIf a lease agreement meets one or more of the indicators given below, the lease agreement should be accounted for as a finance lease
Read MoreCharitable trusts registered under the Income Tax Act are now mandated to obtain fresh registrations under the Income Tax Act ("the Act").
Read MoreIt is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.
Read MorePrior to the issuance of the revised guidelines the compounding fees for compounding an offence u/s 276CC was calculated @ 2% per month on the net tax payable from the due date of the return till the completion of the assessment.
Read MoreIncome Tax Compounding Fees - 276CC Offences - Nonfiling of returns
13th November, 2019
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