The Finance Act, 2022 substituted subsection (4) and (5) of section 12AB with a new subsection (4) which provides a list of ‘Specified Violation‘ if undertaken by the assessee registered or provisionally registered under section 12AB, the Principal Commissioner or...
When we talk about related party or RPT (Related Party Transactions) or any law relating to it, there are multiple authoritative guidance which talk about related party, Related party transaction and their disclosures. We all know SEBI is harsh towards related party...
Slowly and steadily after a long gap, several countries have opened their door for foreign tourist. Last two years have been worse hit for travelling both domestic & international whether for fun or for business and education etc. But now since this restriction is...
There has been a lot of confusion between the meaning of salary and payroll. Many people uses the terms “Salary” and “Payroll” interchangeably. However, there is a considerable difference between the two. Salary refers to the amount to which the employee is entitled,...
Filing of Updated Income Tax Return Finally, provision of filing an updated income tax return has been introduced in Income Tax with effect from 01.04.2022. An assessee, whether he has filed or not, an income tax return (whether it be the original return, the belated...
Payroll tax is defined as the tax that is withheld, charged, or levied on the employer’s payroll. This includes wages, gross salaries, perks, and any other form of remuneration paid to employees. This tax is levied regardless of the employee’s domicile, family status,...
Cryptocurrency and Income TaxClarification on the taxation of cryptocurrency in India was highly awaited for the crypto holders. With the introduction of Budget 2022 the government has announced taxation norms on the same. Key pointers regarding income tax...
Property purchases using companies have become increasingly popular in recent years. If you are a business owner, contractor, or independent professional who operates through a company, you may have contemplated purchasing property through your company. Property...
If you have not linked your Permanent Account Number or PAN with Aadhaar card, be ready to pay higher Tax Deducted at Source (TDS) from next month. The last date for linking your Aadhaar number and PAN has been extended to March 31. Failing to link these two documents...
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