Why your Income Tax Refund is delayed? Know Possible Reasons
Introduction The income tax refund is an extra tax that you have paid in the form of TDS, TCS, or advance tax, then you get the tax refund for the additional amount. In simpler words, it’s getting a refund for overpaying. Once the verification of the income tax return is done, the income tax department […]
Understanding Form 3CD: A Guide for Tax Auditors for FY 2023-24
Introduction Form 3CD is a crucial document in the tax audit process for businesses and professionals in India. It serves as a detailed statement of particulars required to be furnished under Section 44AB of the Income Tax Act, 1961. For the financial year 2023-24, ensuring that Form 3CD is accurately prepared and submitted is vital […]
Tax Audit Limit for AY 2024-25: A Comprehensive Guide
Introduction The Income Tax Department of India has set various regulations and limits to ensure that businesses and professionals maintain transparency and adhere to tax norms. One such critical compliance measure is the Tax Audit, which is governed under Section 44AB of the Income Tax Act, 1961. With the onset of the Assessment Year (AY) […]
