by Sinewave Team | May 19, 2024 | Taxation
A tax audit involves an expression of the tax auditor’s opinion on the truth and correctness of certain factual details, furnished by the assessee to the Income Tax Authorities. This is done to ascertain the correctness of details of income as provided by the...
by Sinewave Team | May 18, 2024 | Taxation
It is often observed in the case of certain trusts that incomes or gains accrue or accumulate over a period. Usually, the objective of the funds received by trust are to utilise the same for charitable purposes or purposes on which grounds the registration was sought...
by Sinewave Team | May 9, 2024 | Taxation
Sale of capital assets is one of the important areas where taxation plays an important role. Any gains arising on such sale of capital assets are also eligible for certain deductions from income tax. Capital gains usually long term capital gains attracts various tax...
by Sinewave Team | May 8, 2024 | Taxation
Advance tax, also known as “pay-as-you-earn” tax, is the income tax payable in advance by taxpayers on their estimated income for the current financial year, where this tax is paid in instalments instead of paying a lump sum tax at the end of the year....
by Sinewave Team | May 4, 2024 | Taxation
Real estate developers and people involved in housing projects sector often face a dilemma regarding the claiming of deductions from tax as there are a lot of compliances to be made for them. Section 80IB(10) of the Income Tax Act, 1961, is a provision aimed at...
by Sinewave Team | May 3, 2024 | Taxation
Income Tax return filing season has just started, and taxpayers are gearing up with all the required information to be reported in their tax returns. Income tax authorities have issued notices in previous financial year to taxpayers who have underreported or...
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