Pearl Business ServicesJun 24, 20221 min readList of Businesses that cannot opt for presumptive taxation scheme u/s 44AD [Defective ITR4]Here are the list of businesses not to be considered under presumptive taxation scheme under section 44AD of incomes tax act, 1961.
Pearl Business ServicesApr 11, 20221 min readAnnual Information Statement - Rent Received. [AIS Update - 1]Rent received is reported through the tenant liable to deduct TDS under sections 194(b), 194(IB), and 10(13A) under Income Tax Act, 1961
Pearl Business ServicesFeb 8, 20221 min readBUDGET 2022 - FINANCE BILL UPDATE 3 - Clarification in Respect of Disallowance U/s 14AIn this update, we discussed Clarification in Respect of Disallowance under section 14A in absence of any Exempt Income during the Year..
Pearl Business ServicesSep 17, 20211 min readFinancial Transactions Information Gathered by Income Tax Department through specified personThe olden days are gone, where the revenue authorities came to know about a person's financial transactions through various returns...
Pearl Business ServicesJul 29, 20213 min readImpact on Adoption of Section 115BAC for Salaried Person - A New Tax Regime Under Income Tax Act1961In this article following points are discussed: Rate of Tax, Benefits forgone due to exercise of this option, When and How to exercise?