1. Introduction to Defective Returns A defective return is an income tax return (ITR) which has already been filed but it contains various errors or mistakes, making it non-compliant in relation to requirements stipulated under the Income Tax Act. These errors may arise due to various reasons, such as wrong information, missing data entry, or… Continue reading What is Defective Return and How to Rectify the Defects in Defective Return
The Goods and Services Tax (GST) has been a major reform in the Indian taxation system. Introduced on July 1, 2017, GST merged various indirect taxes into a single, unified tax, streamlining the taxation process. For operating businesses in India, GST registration is not just a legal requirement but a necessity these days. 1. Introduction… Continue reading GST Registration in Delhi: Essential Insights and Benefits
Assessment under section 143(3) of the Income Tax Act, 1961, also known as scrutiny assessment is initiated, when the Assessing officer or Income tax authority deems it necessary to conduct an audit after examining the income tax return and other relevant documents furnished by the taxpayer. Scrutiny assessment under Section 143(3) is carried out to… Continue reading Understanding Section 143(3): A Guide to Income Tax Assessment
Section 133(6) of the Income Tax Act, 1961 (“hereinafter referred to as Act”), provides powers to income tax return authorities to issue notices to any person, requiring them to furnish relevant information or documents in relation to any ongoing assessment or investigation of a taxpayer’s case. These notices work as a mechanism for the tax… Continue reading Notice Under Section 133(6) Of Income Tax Act, 1961
Tax Deducted at Source (TDS) is an important mechanism employed by the government to collect taxes at the source when any income is generated. While TDS on salary is appreciatory recognized, TDS on non-salary income is also very significant, which includes various sources such as interest, dividends, professional fees, contracts, and rent. Basic Understanding TDS… Continue reading Demystifying TDS Returns: A Comprehensive Guide for Non-Salary Income in Delhi
1. Tax Deducted at Source Tax Deducted at Source (TDS) is an important component in Indian taxation system, which is designed to ensure the collection of taxes at the different source of income. In all the sources of income, salary income holds important aspect, both for individuals and the government. TDS on salary plays an… Continue reading A Comprehensive Guide to TDS Returns for Salary Earners and Employers
Establishing a private limited company is undoubtedly one of the turning points in every entrepreneur’s career. That is a journey to the land of legal creatures, both offering opportunities and ensuring safety through limited liability. We will now explore the details of the procedure of private limited company registration in Delhi, highlighting the elements particular… Continue reading Unlocking the Path: Private Limited Company Incorporation Demystified
Do you have in mind of starting a partnership registration firm in Delhi? Knowing the registration process by heart will get you far. Let us Taxcellent help you through the crucial stages of registering your partnership firm. 1. Basic Understanding about Partnership Firms: A partnership firm is a business structure where two or more individuals… Continue reading Partnership Firm Registration: A Step-by-Step Guide with Taxcellent
Try the guided procedure for the Starting A Proprietorship Firm Registration in Delhi which covers the process of picking a business name to obtain required licences and approvals. Be knowledgeable of taxation compliance, legal obligations as well as the ones required to be used in registration. Taxcellent offers a personalized service to help business owners… Continue reading Proprietorship Firm Registration in Delhi: Process, Legal Obligations, and Taxation Compliance
Explore the minutiae of Online ITR 5 Filing in Delhi for partnerships, LLPs, and more in India. Know its significance, key dates, income declaration, deductions, tax computation under liability, and main auditing and verification rules. Experience the Taxcellent tax experts smoothly dealing with you with tax filing, including revisions, and compliance to keep your due… Continue reading Online ITR-5 Filing Delhi: Your Informative Guide to Tax Compliance in India
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