Category: Seven Star

Clipped from: https://cleartax.in/s/books-of-accounts-and-audit-requirements-for-freelancers The Income Tax Act has specified the books of accounts that are required to be maintained for the purpose of Income Tax. These have

Clipped from: https://taxguru.in/income-tax/practical-guide-presumptive-taxation-book-keeping-audit-sections-44aa-44ab-44ad-44ada.html For India’s small and medium enterprises (SMEs) and professionals, mastering the provisions of Sections 44AA, 44AB, 44AD, and 44ADA is fundamental to ensuring

Clipped from: https://www.caclubindia.com/articles/taxability-of-futures-and-options-fo-transactions-under-the-income-tax-act-1961-53991.asp This document outlines the tax treatment of Futures and Options (F&O) transactions under the Income Tax Act, 1961, for FY 2024-25 (AY 2025-26),

Clipped from: https://taxguru.in/income-tax/turnover-calculation-speculative-non-speculative-transaction-sec-44ab.html Tax Audit Applicability under section 44AB Tax audit is applicable to certain classes of individuals which are mentioned under section 44AB of the

Clipped from: https://taxguru.in/income-tax/comprehensive-clause-by-clause-guide-tax-audit-form-3cd.html Introduction Form 3CD is the Statement of Particulars prescribed under Rule 6G(2) of the Income-tax Rules, 1962, to be furnished along with the

Clipped from: https://cleartax.in/s/form-3cd#h4 Form 3CD is the annexure provided with the tax audit reports Form 3CA and Form 3CB furnished by the Chartered Accountant under section

Clipped from: https://zerodha.com/varsity/chapter/turnover-balance-sheet-and-pl/?utm_source=perplexity 6.1 – Turnover & Tax Audit In the previous chapter, we discussed briefly on tax audit, and when it is required if you

Clipped from: https://www.incometax.gov.in/iec/foportal/help/statutory-forms/popular-form/form3ca-3cd-um 1. Overview To discourage tax avoidance and evasion, the requirement of a tax audit was introduced by the Finance Act of 1984, by

Clipped from: https://tax2win.in/guide/tax-audit-forms-3ca-3cb-3cd-3ce A tax audit is a detailed review of a taxpayer’s financial records conducted by a Chartered Accountant to verify compliance with income tax

Clipped from: https://economictimes.indiatimes.com/wealth/tax/declaring-business-or-fo-income-below-6-of-turnover-tax-audit-report-may-be-mandatory/articleshow/124403900.cms If you are declaring your business or F&O income / loss less than 6% of your turnover then you can be required to

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

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

Clipped from: https://taxguru.in/income-tax/section-148-reassessment-notices-follow-faceless-procedure-delhi-hc.html Mehak Jagga Vs ITO (Delhi High Court) The Delhi High Court has dismissed a petition filed by Mehak Jagga challenging a reassessment notice issued by