Income Tax

Cash Transactions That May Attract Up to 100% Penalty Under Income Tax Law Cash Transactions That May Attract Up to 100% Penalty Under Income Tax Law The Income Tax Department has implemented stringent rules to regulate cash transactions and ensure tax compliance. Non-adherence to these regulations can result in significant penalties, sometimes up to 100% … Read more

Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA Enhancing Tax Transparency on Foreign Assets & Income Tax Transparency on Foreign Assets & Income In an increasingly interconnected global economy, managing tax compliance has become more challenging than ever. Tax authorities worldwide are working together to address the issue of offshore tax … Read more

Extension of Due Date for Determining Amount Payable Under Direct Tax Vivad Se Vishwas Scheme, 2024 Introduction Extension of Due Date for Determining Amount Payable Under Direct Tax Vivad Se Vishwas Scheme, 2024 The government’s Direct Tax Vivad Se Vishwas Scheme, 2024, aimed at resolving pending tax disputes, has brought relief to taxpayers by offering … Read more

Extension of Due Date for Furnishing Belated/Revised Income Tax Returns for AY 2024-25 Extension of Due Date for Furnishing Belated/Revised Income Tax Returns for AY 2024-25 Filing income tax returns accurately and on time is a critical responsibility for taxpayers. However, unforeseen circumstances can sometimes delay compliance, leading to the need for belated or revised … Read more