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A tax audit under Section 44AB of the Income Tax Act is an essential process that ensures compliance with tax laws for businesses and...

Filing your Income Tax Return (ITR) as a freelancer or professional can be a complex task, particularly when it comes to choosing the...

Section 142(2A) of the Income Tax Act is a crucial provision that grants the Assessing Officer (AO) the authority to order an audit of an...

The residential status of a taxpayer is a crucial factor in determining their tax liability in India. Under Section 6 of the Income Tax...

Additional depreciation is a tax deduction that allows businesses to claim an extra percentage of depreciation on top of the regular...

A balance sheet is defined as a type of financial statement that determines the assets and liabilities of a business as of a specific...

Section 43B of the Income Tax Act plays a crucial role in regulating how businesses claim deductions for certain expenses, such as...

On September 20, 2019, the Government of India implemented Section 115BAA using the Taxation (Amendment) Ordinance 2019. The Income Tax...

A special tax known as a cess is imposed in addition to other taxes already in place. Funds are raised by the central government for...

The Income Tax Act, of 1961, provides several deductions on home loans that can significantly reduce your tax liabilities. Notably, the...