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Indians have just five days to return withdrawn Rs 2,000 notes worth $3 billion

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What is the last date to file ITR-U?

An individual can file an updated income tax return or ITR-U (or updated ITR) to correct any mistakes, under-reporting or misreporting of income in their original income tax return. ITR-U can also be filed by someone who was required to file ITR as per law but did not do so...

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Jeena & Company adopts AI to boost productivity, improve operations

Jeena & Company has taken a step towards enhancing its operations and customer service by integrating artificial intelligence (AI) into its processes. The company has integrated its Customs House Agent (CHA) software with an AI solution. One of the achievements of this AI integration is the introduction of “Single Click...

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Has the last date for submitting income tax audit report been extended?

An income tax audit is a thorough inspection of the books of accounts of a business entity or professional individual like doctors, lawyers, chartered accountants (CA) etc. An income tax audit has to be mandatorily conducted by certain taxpayers having business or professional income above a specified threshold. The Income...

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Four things to check in income tax audit report

Once an income tax audit is completed, an individual should check certain things. This is to ensure that the income tax auditor has not made any mistakes while submitting the audit report. If there is a mistake in the audit report, then an individual will be first required to prove...

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Gstn | Msme : How GSTN on Account Aggregator can help MSME lenders

The Account Aggregator framework was expected to be a watershed moment, not unlike UPI, for financial services. So far, its enormous impact has been evident in consumer lending, but with the inclusion of Goods and Services Tax Network (GSTN) on the Account Aggregator framework, credit access to micro, small and...

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Tax Audit Applicability for F.Y. 2022-23

Section 44AB Audit of accounts of certain persons carrying on business or profession of Income Tax Act, 1961-Every person,— a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any previous year: [Provided...

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