There are no changes in direct and indirect tax rates. The interim budget proposes to withdraw outstanding disputed direct tax demands up to Rs.25,000 pertaining to the period up to F.Y 2009-10 and up to Rs.10,000 for F.Y 2010-11 to 2014-15.
Read MoreThe Income Tax Department has recently launched a new feature called 'Discard Return'. This feature allows an individual to completely discard, i.e., delete their previously filed unverified income tax return (ITR).
Read MoreAn audit trail is a detailed, chronological record of all the transactions in a company, including financial transactions, operational activities, and administrative tasks where accounting, project details, and other financial data are tracked and traced.
Read MoreWith the objective of promoting timely payments to Micro and Small Enterprises, Hon
Read MoreIncome rebate u/s 87A limit in new tax regime has been increased to Rs 7 Lakh from Rs.5 Lakh presently i.e.,if a taxpayer has income upto Rs.7 Lakh, there is no income tax.
Read MoreDisclaimer
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