Tag: taxontips

Although in the circular they have mentioned that higher TDS shall not be charged, however no resolution has been provided ...

Short-term provisions represent obligations that a company expects to settle within its operating cycle or one year, whichever is longer.

Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of August 2024.

wherein as per the proposed amendment the long term immovable property owner will have the option to determine tax at ...

Below are the FAQ's issued by Income tax department in relation to the change in Capital gain provisions under the ...

To provide comprehensive directions for conducting a statutory audit of "Other Current Liabilities" in an Indian company, ensuring compliance with ...

Trade payables are amounts a company owes to its suppliers for goods or services purchased on credit. They represent a ...

However, while processing the return the Income tax department is showing such return as defective return under section 139(9) of ...

Short-term borrowings are a crucial component of a company's balance sheet, representing obligations that are due within a year. These ...

Tax rates on capital gain increased: STCG rates on certain assets will be made 20%. LTCG rates on certain assets ...

The issue has been arisen because of the proviso added by Finance Act, 2023 which states that wherein total income ...

These provisions can include obligations such as employee benefits, warranties, legal claims, and environmental liabilities.

If the employee don't disclose such asset in their schedule FA it could lead to a penalty of Rs.10 lakh ...

Other long-term liabilities encompass various obligations that are not due within the next 12 months but do not fall under ...

Representations have been received from the trade and field formations seeking clarification regarding the taxability of Employee Stock Option (ESOP)/ ...