Under the Income Tax Act, 1961, certain taxpayers must get their accounts audited by a Chartered Accountant and submit a Tax Audit Report. This audit requirement,..
Tag: Tax Filing 2025
Who is Eligible for the Presumptive Taxation Scheme?
The Presumptive Taxation Scheme (PTS) under the Income Tax Act, 1961 is a major relief for small businesses, professionals, and freelancers who want to avoid complex..
Who Should File Taxes as an NRI?
Non-Resident Indians (NRIs) often assume they are exempt from filing taxes in India – but this is not always true. The Income Tax Act, 1961, clearly..
BEPS Pillar Two: Will India Adopt the 15% Global Minimum Tax?
The OECD’s BEPS Pillar Two framework is driving a global shift towards a minimum 15% corporate tax rate across countries, aimed at preventing profit shifting and base..
Faceless Assessments 2.0: Navigating Clause 263–389 of the New Bill
Navigating Clause 263–389 The Indian tax system continues its shift towards digitization and transparency with Faceless Assessments 2.0, proposed in Clause 263 to 389 of the New..
Difference Between Form 26AS, AIS, and TIS
Form 26AS, AIS (Annual Information Statement), and TIS (Taxpayer Information Summary) are key tools introduced by the Income Tax Department to increase tax transparency and improve..