According to the Income Tax Act of 1961, if someone doesn't follow the tax rules, they may have to pay penalties. These penalties include interest on unpaid tax amounts. Section 234 outlines these penalties, and specifically, Section 234B deals with interest charged for not making advance tax payments on time, especially if the taxpayer fails to pay online.Understanding … [Read more...] about Interest on Late Advance Tax Payments: Section 234B Explained
Understanding the Clearing and Settlement Process in Stock Trading
When you buy or sell stocks, there’s a behind-the-scenes process that ensures the proper transfer of money and shares between you and other market participants. This is known as the clearing and settlement process. Whether you’re a beginner or experienced investor, understanding this process will help you manage your trades more effectively, avoid confusion, and ensure … [Read more...] about Understanding the Clearing and Settlement Process in Stock Trading
Your Guide to Income Tax Notices: 8 Alerts Every Taxpayer Should Know!
The income tax department may send you a tax notice if they find any errors in your tax return. These notices are a way for the tax authorities to alert you about mistakes that need to be corrected. Depending on what the issue is and how you respond, the tax officer might take further action.It’s crucial to understand why you might get a tax notice and how to handle it. … [Read more...] about Your Guide to Income Tax Notices: 8 Alerts Every Taxpayer Should Know!
Understanding How New Share Buyback Tax Rules Impact Shareholders and Corporations
The Indian government's new tax rules for share buybacks have created quite a buzz since they came into effect on October 1, 2024. These changes, announced in Budget 2024, will affect both shareholders and corporate strategies in significant ways.If you're wondering how these changes might impact you or the companies you invest in, you're in the right place.This article … [Read more...] about Understanding How New Share Buyback Tax Rules Impact Shareholders and Corporations
Understanding Company Obligations Regarding the Registered Office: A Simple Guide
When you start or run a business, there are certain legal rules you must follow to ensure your company is transparent, accountable, and trustworthy. One important rule is about the company’s registered office—the official address where your business is legally located.This guide will break down everything you need to know about your company's obligations regarding the … [Read more...] about Understanding Company Obligations Regarding the Registered Office: A Simple Guide