The key facts about tax audit due date are as follows. The Gujarat High Court has ordered an extension of the ITR filing due date for audit cases. However, the evidence does not provide specific details about the new due date. It only mentions that the court has made this order, but the exact date … Read more
The key facts about income tax audit are that missing key forms could flag a taxpayer’s return for audit. According to a CNBC article, a bigger tax refund may be coming, but this could be affected if the necessary forms are not submitted. The article does not specify which key forms are required to avoid … Read more
The ITAT ruling on tax misreporting penalty works by offering key lessons for taxpayers. According to the ITAT ruling, an employee who files their ITR using Form 16 may face a significant tax penalty. In one such case, the employee received a tax penalty of Rs 51.2 lakh. The ITAT ruling provides valuable insights for … Read more
UPI tax is known for being a fee imposed on Unified Payments Interface (UPI) transactions exceeding ₹2,000. This fee is a part of the government’s efforts to promote digital payments and encourage financial inclusion. The introduction of this fee has sparked debate about its impact on the sustainability of UPI transactions and whether it is … Read more