Section 194J – TDS on Fees for Professional or Technical Services Section 194J – TDS on Fees for Professional or Technical Services One of the most important and common types of payments that a business entity makes is towards professional fees or fees for technical services. Some examples of professional fees are fees paid to … Read more
Due Date for Furnishing Return of Income for AY 2024-25 Due Date for Furnishing Return of Income for AY 2024-25 The Central Board of Direct Taxes (CBDT) has granted an extension for the due date for filing the Return of Income for the Assessment Year (AY) 2024-25. This extension is specifically applicable to assessees who … Read more
Understanding TDS Section 195 of the Income Tax Act Understanding TDS Section 195 of the Income Tax Act Section 195 of the Income Tax Act, 1961, governs Tax Deducted at Source (TDS) on payments made to Non-Resident Indians (NRIs) or foreign entities. Understanding TDS Section 195 of the Income Tax Act This section ensures tax … Read more
Filing Form 1 under the Direct Tax Filing Form 1 under the Direct Tax The Direct Tax Vivad se Vishwas Scheme, 2024 (DTVsV Scheme) was introduced by the Government of India to resolve pending income tax disputes, aiming to reduce litigation and facilitate dispute resolution. The scheme, enacted through the Finance (No. 2) Act, 2024, … Read more
Understanding the New Income Tax Notification Understanding the New Income Tax Notification On October 18, 2024, the Ministry of Finance in India issued a significant notification impacting businesses engaged in international transactions and specified domestic transactions. This notification pertains to the determination of arm’s length pricing under the Income-tax Act, 1961, and will be applicable … Read more
