Income Tax Department Sends Notices Income Tax Department Sends Notices In a major crackdown on tax evasion, the Income Tax (I-T) Department has issued notices to approximately 300 private equity (PE) firms and company promoters. These notices pertain to alleged non-payment or underpayment of capital gains tax, totaling an estimated Rs 4,200 crore. This action … Read more
Understanding Gift Deed Understanding Gift Deed A Gift Deed is a legal document through which a person (known as the donor) voluntarily transfers ownership of property or valuable assets to another person (known as the donee) without any exchange of money or consideration. This document helps establish clear ownership rights for the donee and provides … Read more
How to Avoid Excess TDS Deduction by Filing Form-13 Are you facing excessive TDS deductions on your income despite having minimal tax liability? Filing Form-13 can help you reduce or even eliminate such deductions. This guide explains what Form-13 is, who should file it, and how to complete the application process effectively. What is Form-13? … Read more
Advance Tax Payment Guide for FY 2024-25 Advance Tax Payment Guide for FY 2024-25 Advance tax is a crucial compliance requirement for taxpayers whose total tax liability exceeds ₹10,000 in a financial year. Timely payment is essential to avoid penalties and ensure smooth financial planning. This guide will help you understand the due dates, calculation … Read more
Income-tax Act 1961 Income-tax Act 1961 The Government of India has taken a significant step towards simplifying the Income-tax Act, 1961, with the introduction of the Income-tax Bill, 2025. This reform aims to make the tax framework clearer, more accessible, and user-friendly while ensuring continuity in tax policies. The Bill was tabled in Parliament on … Read more
