Income and Transaction Mismatches for FY 2023-24 and FY 2021-22 Income and Transaction Mismatches for FY 2023-24 and FY 2021-22 The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has launched a new electronic campaign aimed at assisting taxpayers in resolving discrepancies between the income and transactions reported in their Annual Information … Read more
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
