Month: October 2025
Belated ITR filing AY 2025-26: Will you get interest on income tax refund due amount?
The deadline to file the income tax return (ITR) for AY 2025-26 in non-audit cases ended last month on 16th September. Now, taxpayers whose accounts do not
Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul
The Income-tax Act, 2025 (New Act) marked a historic shift from the Income-tax Act, 1961 (Old Act) by eliminating provisos and explanations, making substantive law
*******Turnover limit for Tax audit is Rs. 1 crore or Rs. 10 crore under section 44AB of the Act – Taxontips
Clipped from: https://www.taxontips.com/turnover-limit-for-tax-audit-is-rs-1-crore-or-rs-10-crore-under-section-44ab-of-the-act/ Section 44AB deals with the limit for conducting Tax audit under the Income Tax Act. For Individual, HUF and firm they can skip
*******Maintenance of accounts by certain persons carrying on profession or business
Clipped from: https://incometaxindia.gov.in/Acts/Income-tax%20Act,%201961/2025/102120000000090803.htm 44AA. (1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or
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