Filing Income Tax Returns (ITRs) for FY 2024-25 has become more detailed and stricter compared to previous years. The Income Tax Department has introduced additional reporting requirements and tightened verification using AI tools. Here are the major updates every taxpayer—especially NRIs—should be aware of. More Detailed Reporting in ITR Forms This year’s ITR forms demand […]
An income tax refund is issued when the total tax paid, including TDS, advance tax, or self-assessment tax, is higher than the actual tax liability for a particular financial year. Taxpayers can claim this refund while filing their Income Tax Return (ITR). Once the return is processed and verified, the refund amount is credited directly [...]
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Tax Deducted at Source (TDS) is collected by the Income Tax Department on various types of income such as salary, interest, rent, commission, or professional fees. However, there are situations where excess TDS is deducted compared to your actual tax liability. In such cases, you can claim a TDS refund online while filing your Income [...]
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Changes in a company’s share capital are common during its growth and expansion phase. However, any modification — whether increasing authorized capital, issuing new shares, or restructuring shareholding — requires strict compliance with the Companies Act, 2013 and reporting to the Registrar of Companies (ROC) within the prescribed timelines. Here’s a clear breakdown of the […]