Every international transfer made for business purposes must file Income Tax Forms with the Income Tax Portal, including the amount of the remittance, currency, recipient country, and nature of the transaction for which payment is required. In this article, we will understand the difference between 15ca and 15cb. Furthermore, if international remittance exceeds a certain … Read more
If your tax payment exceeds the amount that was liable during the assessment year, then the government refunds the amount. It is known as Income Tax Refund and you can avail of it through a refund application to the income tax authorities. Besides, You can check the status of your income tax refund 10 days … Read more
There is a relief for corporates as well as individual taxpayers in India. Once again, the CBDT has notified Income Tax Return Filing due to date extension via press release. The notification was released on January 11, 2022, and is applicable to the assessment year 2021-22. In this article, we will understand the latest notification … Read more
In this new technical age, everything has gone online. It is also true for ITR Filing. Now, everyone can file ITR at the comfort of their home or office. However, there are some prerequisites to fulfill when filing ITR online. For example, individuals and professionals with an annual gross receipt of more than INR 25 … Read more
One of the most interesting things that amazes people is Income Tax Return Filing for deceased persons in India. It’s true that a deceased person can be taxed in India. Thus, Death and Taxes are inevitable. Legal Heir or any other representative needs to do Income Tax Return Filing on the behalf of taxable income … Read more
An important news for taxpayers: start ITR Filing on time and in the correct manner otherwise face grave situations. The Income Tax Department is getting stringent on tax dodgers as well as tax fraudsters. Recently, the Income Tax Department conducted raids on Contractors in Bengaluru. In this article, we will read the highlights of Income … Read more
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) declared that the Western Union is to do ITR Filing for profits earned in India. The business of the assessee includes the transfer of money across international borders: the assessee, a US company, deals in the business of rendering money transfer services In this article, … Read more
The Income Tax Appellate Tribunal (ITAT) Chennai bench recently ruled that a single trade of sale and purchase of equities cannot be classified as a commercial activity to levied ITR Filing on a citizen. In this article, we shall discuss the latest notification relating to the single transaction of Buying and Selling of Shares can’t … Read more
Taxpayers flag a range of ongoing anomalies like belated pre-corroboration by the banks and issues in register digital sign official documents. The article discusses Infosys’ deadline ends; however, bugs are still in the income tax filing portal in detail. Infosys’s deadline ends, but several issues were found on the portal The time limit outlined by … Read more
Important news for Investors as the GST & Income Tax Department may target Crypto Transactions soon. If crypto transactions are taxed, investors might need to mention them in their ITR Filing. As per the recent reports, the Finance Ministry is considering taxing crypto income through trading and crypto exchanges. Sources argue that even if it … Read more