Running a business in Delhi comes with multiple responsibilities, and one of the most important among them is income tax return filing for businesses.Many business owners think tax filing is just about paying tax. But in reality, it’s about compliance, financial transparency, and avoiding penalties from the Income Tax Department.Whether
The last date to file income tax return for FY 2025-26 is 31 July 2026 for most individual taxpayers. Businesses requiring audit have a deadline of 31 October 2026. Missing the ITR due date can attract a late filing penalty of up to ₹5,000 under Section 234F and interest under Section 234A. The Income Tax Return
India’s taxation framework is set to undergo a major transformation with the introduction of the New Income Tax Act 2025, expected to be implemented from 1 April 2026. One of the most significant reforms under this new law is Section 393, which aims to simplify and restructure the provisions related
India’s taxation framework is set to undergo one of the most significant reforms in decades with the introduction of the New Income Tax Act 2025. This proposed legislation is expected to replace the Income Tax Act of 1961, which has governed India’s taxation system for more than 60 years. The
Are you struggling with TDS filing or panicking over late fees? You’re not alone—thousands of businesses in Delhi face the same challenge.IntroductionTax Deducted at Source (TDS) is one of the most critical aspects of taxation and financial compliance for businesses operating in India. From ensuring timely deductions and deposits to
Receiving a notice from the Income Tax Department can trigger anxiety for many taxpayers—but the good news is, not every notice is a penalty or a problem. In many cases, it's a routine request for information, clarification, or verification.Let’s break down the different types of income tax notices, what they
Starting April 1, 2025, significant amendments to India's income tax laws have come into force. These changes are aimed at simplifying the tax structure, offering greater relief to taxpayers, and boosting economic growth. As a trusted financial advisory and consulting firm, Aplite Advisors brings you a comprehensive summary of the
Ensuring compliance with tax regulations is essential for every taxpayer to avoid unnecessary scrutiny from the Income Tax Department. Certain financial transactions may trigger an Income Tax Notice if they exceed specified limits or appear suspicious. Understanding these transactions can help you stay tax-compliant and avoid penalties. Transactions That May
