The deadline for filing the Income Tax Return (ITR) for the Assessment Year (AY) 2023-24, reflecting the income earned during the financial year 2022-23, typically falls on July 31, 2023, for most taxpayers. However, individuals, companies, and LLPs that need to have their accounts audited under the Income Tax Act have a later deadline of October 31, 2023, for filing their ITR.
Compliance with essential GST requirements is crucial for companies that are GST-registered. Prior to the start of the year, companies must prepare new invoice processing series, evaluate their accumulated turnover to determine whether to opt for the scheme for FY 2023-2024
There have been several changes to income tax rules that have become effective from the current financial year. These changes include alterations to income tax slabs, an increase in the tax rebate limit, and the removal of LTCG tax benefits on certain debt mutual funds. These changes have been in effect since April 1st, 2023.
The Hon’ble High Court of Allahabad vide its order dated 22.12.2022 in the matter of M/s Jaiprakash Thekedar Vs. Commissioner, Commissioner Taxes and Another in Writ Tax No. 1511 of 2022, quashed the order cancelling the registration passed
UAE announces introduction of corporate tax w.e.f. 1 June 2023. With OECD adopting a minimum tax rate of 15%, UAE seems to have introduced Income Tax at an appropriate time, albeit at a lower rate 1. Corporate Tax has been introduced on net income or profit of corporations and other businesses. This is a federal […]
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