by Sinewave Team | Aug 19, 2024 | Taxation
On 23rd July, 2024, government of India proposed new Budget for the relevant financial year. Major amendments were made in relation to capital gains and indexation. Indexation for capital gains refers to the adjustment of the purchase price i.e. cost of acquisition of...
by Sinewave Team | Aug 18, 2024 | Taxation
Appeal of assessee was hence dismissed. About Author:CA Chinmay Shirish AgateChinmay Agate is a Practicing Chartered Accountant having 4+ years of experience and expertise in the field of Direct Taxation and Auditing compliances. In the past, he worked in various CA...
by Sinewave Team | Aug 17, 2024 | Taxation
Societies, trusts etc. registered u/s 12AA of the act are required to obtain fresh registrations as per recent updates in the law. According to the Third Amendment of Income Tax Rules 2023, the tax audit report needs to be furnished by charitable trusts, institutions...
by Sinewave Team | Aug 16, 2024 | Taxation
In India certain tax provisions are specifically designed to impose penal provisions on assessee for failure to comply with the mandatory laws. Section 271(1)(c) is one of such provisions which imposes penalty if a person fails to furnish accurate details of income or...
by Sinewave Team | Aug 15, 2024 | Taxation
Due date of filing income tax return for AY 2024-25 has elapsed and many taxpayers still wonder whether they can file the return after due date in case they have missed the filing deadline. Failure to meet the deadline for filing ITR can land you in some troubles such...
by Sinewave Team | Aug 14, 2024 | Taxation
Partnership is a form of Business venture where at least two or more people come together to carry out a common business activity. This is done with a view to make profits. Every member of such a partnership firm is called a partner. Partners of such firm are offered...
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