Post by: Arnold Thomas in Government Initiatives Income Tax
Section 271AAD – Penalty for Fake Entries and Fake Invoices While introducing the new penalty provisions, relating to fake entries and fake invoices under Income Tax, the Finance Minister, Smt. Nirmala Sitharaman, in her budget speech, had stated as under: ‘In order…
Post by: Chris John in Compliance Income Tax
Income Tax for Freelancers Freelancing has emerged over the past few years as a significant source of income for several taxpayers across India, especially for the younger generation. The significant advantage that the freelance sector has is the benefit of…
Post by: Sreeram Viswanath in Compliance Income Tax
Section 271J of Income Tax Act A penalty under Section 271J is imposed on a chartered accountant, merchant banker or registered valuer for furnishing false information in any reports or certificates. In this article, we discuss the provisions of Section…
Post by: Sreeram Viswanath in Government Initiatives Income Tax
Section 271AAC of Income Tax Act Section 271AAC of Income Tax Act imposes a penalty on assessees for possessing unaccounted income. Under Section 271AAC, a taxpayer will be bound to pay penalties if it is determined by the Assessing Officer…
Post by: Sreeram Viswanath in Government Initiatives Income Tax
Section 271B - Income Tax Act Section 271B of the Income Tax Act imposes a penalty on taxpayers for not getting accounts audited or failure to furnish a tax audit report. The penalty under Section 271B is imposed on defaulting…
Post by: IndiaFilings in MCA
Due Dates for LLP - MCA and Tax Return Limited Liability Partnerships (LLP) is a relatively new type of corporate entity that is a hybrid between a company and a partnership firm. LLPs registered in India must file their income…
Post by: Supreena in Income Tax
Form 40B - Income Tax Form for modifying nomination [maxbutton id="17" url="https://www.indiafilings.com/learn/wp-content/uploads/2018/04/Form-40B.pdf" text="Down;load Form 40B in PDF Format" ]
