Income tax return filing in chennai

Demystifying Double Taxation Avoidance Agreement (DTAA) in India

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Double Taxation Avoidance Agreement (DTAA) in India In the complex world of international taxation, Double Taxation Avoidance Agreements (DTAAs) are a boon for individuals and businesses. These agreements are designed to prevent double taxation, ensuring that income is not taxed in both the home country and the foreign country. India, a hub for international trade …

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Cost Inflation Index for F Y 2023-24 notified

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The CBDT has notified vide its Notification No 39/2023 dtd 12.06.2023 that the Cost Inflation Index (CII) for the year 2023-24 be 348. What is Cost Inflation Index? The Cost Inflation Index (CII) is a crucial parameter used in the Indian tax system to adjust the purchase cost of assets and investments for inflation. It …

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Advance tax 1st Instalment due

Advance Tax 1st Instalment Due on June 2023: Importance and Consequences

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Advance Tax 1st Instalment Due on June 2023: Importance and Consequences Advance tax is a key aspect of income tax in India, requiring taxpayers to pay estimated tax liability in installments. The first instalment for the financial year 2023-24 is due in June 2023. Non-payment has significant repercussions. Let’s explore the importance of timely payment …

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10 Crucial Guidelines for Accurate Tax Filing

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10 Crucial Guidelines for Accurate Tax Filing Filing taxes can be an intimidating task, and even a small error can have significant repercussions. As an esteemed CA firm in India, we understand the importance of precise tax filing and its impact on financial matters. In this blog post, we will present you with ten essential …

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How to make Income tax payment online for AY 2023-24 (FY 2022-23)

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Follow the below mentioned procedures to make Self Assessment Tax payment for FY 2022-23 (AY 2023-24) 1. Go to the Below Link –  https://www.incometax.gov.in/iec/foportal/ 2. Click e-Pay Tax 3. Provide Pan/Tan and Mobile Number 4. Enter the received OTP 5. Click Proceed under Income Tax 6. Provide your Pan/Tan and Name 7. Select 2023-24 under Assessment Year & Self Assessment …

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Update on Income-tax Return verification

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1) ITR should be verified within 30 days instead of earlier 120 days 2) Only speed post mode is allowed for manual verification 3) Returns filed till 31.07.22 can be verified within 120 days 4) Date of e-verification or manual verification is the date of filing the returns in case of returns e verified or …

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Are you liable to pay Advance Tax? Check this out….

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Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total …

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Are you liable to pay Advance Tax? Check this out….

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Payment of Income-tax as Advance tax is an obligation to be met by the Tax payers. Are you liable to pay Advance tax? Are there any exemptions? When should these advance tax payments be made? Find answers for all your queries here. Read on…. When does the question of Advance tax arise? If your total …

Are you liable to pay Advance Tax? Check this out…. Read More »

File your Income-tax returns before due date if you have any losses…

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The due date for filing your Income-tax returns is fast approaching. Many think that only if you have Income you need to file your Income-tax returns on time. But the fact is even if you are facing losses, it becomes important to file your returns on time, on or before the statutory due date. There …

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