Tax planning in the modern competitive and compliance-driven world has gone a long way beyond making money savings. It is a responsible financial habit that makes the company more stable, and it helps in the personal and business development. By strategizing their taxes in advance people and firms can effectively take more advantage of the…
Tax management, traditionally a complex and time-consuming function, is being reshaped by technology. The integration of Artificial Intelligence (AI) and automation is transforming how businesses and professionals handle tax-related tasks, moving beyond simple cost-cutting to a more strategic approach. These innovations streamline processes, enhance accuracy, and provide new opportunities for analysis and planning. The Role…
Relief has been given to the taxpayers by the Income Tax Department wherein some time has been given in filing the Income Tax Returns (ITRs) of the financial year 2024-25. The subsequent deadline of non-audit cases has been moved to September 15, 2025, instead of the previous one, that of July 31, 2025. The extension…
As tax season approaches, many individuals and businesses find themselves overwhelmed by forms, calculations, deadlines, and ever-changing tax laws. Navigating through these complexities can be stressful, and even a small error can lead to costly consequences. This is where an income tax advisor plays a crucial role in ensuring smooth and accurate tax filing while maximizing…
Taking your business to the global front is a great step, as it comes with expansion and portfolio diversification. But together with this come complicated tax issues that will affect your profitability and compliance. International tax planning is vital, whether it is establishing how to negotiate the tax regimes of other countries, how to prevent…
For a lot of Non-Resident Indians (NRIs), moving back to India after spending time in another country marks a special occasion as well as a smart life decision. Relocation requires you to handle many tasks, but tax planning should always be considered a major priority. Once they go back to India, how taxable NRIs are…
Filing income taxes may seem straightforward, especially with the rise of online portals and self-filing tools. However, without the guidance of an expert, many individuals unknowingly commit errors that can lead to financial loss, audits, or penalties. An income tax advisor plays a crucial role in ensuring compliance, maximizing deductions, and maintaining proper documentation. Let’s explore…
With time pressure in the financial sector, companies rely on outsourcing taxes to deal with tough laws, strict deadlines, and approaching needs. Though outsourcing saves money and offers us experts in tax management, technology has played a main role here. Now that technology has advanced, outsourcing taxes becomes speedier, more accurate, and highly efficient. Automation…
From a legal perspective, when individuals and businesses get a lawsuit settlement, it is important to know the tax regulations. Of all the basic types of settlements, product liability settlements are likely to have special tax features. The taxes applicable on the lawsuit settlement can change the amount received considerably, therefore it’s important to understand…
Introduction As per section 206C of the Income Tax Act 1961 (“the Act”), Tax Collected at Source (“TCS”) is a tax that sellers collect from buyers at the time of sale of specified goods. The applicable TCS compliances are: Collection & Payment: TCS needs to be collected by seller from the buyer at the time of…
