Income tax reassessment process in India explained. Covers legal grounds under Section 147, time limits for reopening assessment, notice under Section 148, and how taxpayers can respond and appeal.
Complete guide to TCS on foreign remittance under India's Liberalised Remittance Scheme. Covers applicable TCS rates, threshold limits, which remittances are exempt, and how to claim TCS credit in your ITR.
Comprehensive guide to income tax rules in India for taxpayers and professionals. Covers key provisions of the Income Tax Rules 1962, filing requirements, deductions, assessment procedures, and recent amendments.
Income tax disclosure requirements for foreign assets held by Indian residents. Covers Schedule FA in ITR, which foreign assets must be disclosed, penalties for non-disclosure, and FEMA compliance obligations.
Tax on forex trading in India explained. Covers whether forex income is business income or capital gains, applicable tax rates, ITR form selection, GST on forex transactions, and filing tips for traders.
New TDS rules for senior citizens in India from April 2025. Covers revised TDS exemption limits on interest income, Section 194P, Form 15H, and tax-saving strategies for senior and super-senior citizens.
How to declare foreign shares in your ITR as an Indian resident. Covers Schedule FA disclosure, valuation of foreign shares, applicable ITR form, dividend tax treatment, and FEMA reporting requirements.
Section 139(4) of the Income Tax Act explained. Covers belated return filing rules, the deadline to file a late ITR, applicable penalty under Section 234F, and limitations on carry-forward of losses.
Partnership firm audit limits under the LLP Act, Income Tax Act, and GST law in India. Covers turnover thresholds triggering mandatory audit, applicable sections, and compliance requirements for partners.
LRS scheme limit explained for remitting money abroad from India. Covers the USD 250,000 annual limit, permitted and restricted remittances, TCS applicability, and RBI rules for individuals under the LRS framework.
