TDS Deductors must issue a UIN (Unique Identification Number) to those who submit Form 15G and Form 15H to them. Additionally, deductors also have to report in their quarterly TDS filings – UIN details and the transactions on which no TDS was deducted. ...
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Several taxpayers, who file their income tax returns, forget to verify them. In fact, many taxpayers believe their return filing is complete once return has been submitted to the income tax department. Unfortunately, a large number of taxpayers, skip step...
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Step 1: Start early When you plan your investments, you make sure you take informed and calculated decisions. You have the time on hand to assess and review your investments through the year and make changes if required. Repeatedly underperforming investm...
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E-verification of income tax returns has its merits. There is no need to send physical ITR-V and you are a step closer to your final return processing. Your refunds may be processed faster, as there is no lag in verification from your side. Time may be lo...
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The income tax department has revised the rules relating to preparation & submission of Form 15CA and Form 15CB (see old rules here). Revised rules are effective 1st April 2016. The significant changes are as follows – Form 15CA and 15CB will be NO...
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Modi government has been under immense pressure to implement its poll promise of going after ‘kaala dhan’. With this purpose, first it launched the undisclosed foreign income and assets scheme, which saw a muted response. Now the government has announ...
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Union Budget 2016 proposed Advance Tax Liability for the A.Y. 2017-18 (a) Section 211(1) is amended to provide that advance tax will be paid in four installments of 15%, 45%, 75% and 100% of tax payable on the current income by 15th June, 15th September, ...
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The Companies Auditor’s Report Order (CARO), 2016 vide Order dt. 29th March, 2016 has been notified by the MCA. This Order brings about amendments in CARO, 2015 or supersedes the same. Final CARO 2016 is followed with issuance of Draft CARO 2016 by MCA ...
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If you are running a business in India, then you surely need the assistance of accounting firms for preparing financial statements, accounting, taxation, preparation of consolidated accounts as well as auditing. The accounting and financial statements wil...
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People who are setting up new business or company as well it is supposed that you have provided much thought on tax planning, which entails various aspects of financial objectives and solutions within the fringe of taxes. Comprehensively, it involves your...
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