Director identification number (DIN) refers to a unique identification number allotted to an individual who is willing to be a director or is an existing director of a company. DIN is obtained by submitting an application in e-Form DIR-3. However,…
Under the Income Tax Act 1961, every person who has been allotted Permanent Account Number (PAN) and is eligible to obtain an Aadhaar Number shall mandatorily link PAN with Aadhaar. The deadline to link PAN with Aadhaar was extended from the…
Every salaried person must pay an amount from their salary as tax under the Income Tax Act of 1961. Under the Income Tax Act of 1961, there are many provisions and variations with subsections describing the details of tax payments,…
Section 80TTA of the Income Tax Act, 1961 provides a deduction of up to Rs 10,000 on the income earned from interest on savings made in a bank, co-operative society or post office. It applies to all individuals and…
What is Section 80TTB? Section 80TTB of the Income Tax Act, 1961 allows a resident senior citizen to claim a deduction against interest on the deposit. Under Section 80TTB deduction, senior citizens can claim income tax exemption of upto Rs. 50,000/-…
What is Belated Return? A belated return is a return that is filed after the due date specified in the income tax act. It can be filed at any time before the end of the relevant assessment year or before the…
It is important for individuals, businesses, and various other entities to file their income tax returns before due date. ITR filing on the due date is essential to comply with tax laws, avoid penalties, claim timely refunds, maintain accurate financial…
When beginning a company, you must decide what form of Company you want to register. Companies are of various types which includes One Person Company, Private Limited Company, Public Limited Company, Limited Liability Partnership etc. OPC and Private Limited Company are two…
To promote ease of doing business the Ministry of Corporate Affairs (MCA) announced the launch of a new form named AGILE New E-Form INC 35. By filing the AGILE PRO-S form together with the SPICe Plus incorporation form, companies would be…
What is GST Appeal? Any taxpayer who is registered under GST has the option to appeal to the different levels of the appellate authority in case of any problem with the order passed by the GST officer, penalty or any…
