From 1st July, 2022, Section 194R will be applicable which states deduction of tax on benefit or perquisite in respect of business or profession i.e. TDS on benefit or perquisites given. It is a general practice in many industries to gift cars, luxurious trips, laptops, mobile etc. as a gift for achieving targets or as […]
Dear Reader, Kindly find the attached image describing whether you are liable to file your Income Tax Return or not. Due to formatting issue, we could not bring text here and so attached the image file. Just zoom in to check the image.
Dear Readers, We have tried to cover major amendments brought in by Finance Act, 2022 in the GST Law. Further, we have divided the same as summary part and detailed part so that reader can read as per his comfort. Income tax version will follow soon. Insertion of Section 16(2)(ba) and substitution of a new[…..]
Dear Readers, Before analyzing the management of late fees and penalties, let’s first check the due dates. INCOME TAX DUE DATE Furnishing of Income Tax Return (ITR – Non Audit) 31/12/2021 Furnishing of Audit Report (Other than Transfer Pricing) 15/01/2022 Furnishing of Income Tax Return (ITR – Audit case and partner of auditable P’ship firm))[…..]