The new tax regime will continue to be the default tax regime. However, the assessee can still avail benefits under old tax regime on opt-out basis as per the Law.
Read MoreThere 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 MoreDisclaimer
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American Institute of Certified Public Accountants 
Association of Chartered Certified Accountants 
Chartered Institute of Management Accountants 
Federal Reserve Board of USA 
Indian GST FAQs 
Indian Income Tax 
Information System Audit and Control Association 
Institute of Chartered Accountants of England and Wales