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SFT Form 61A
Understanding & Reporting Guidelines of the SFT (Form 61A) & FATCA (Form 61B) of the Income Tax Act

Praveen Kshirsagar Posted On | March 31, 2025

Managing finances and staying compliant with the taxes can be tough in India, the Income Tax Act has various forms like Form 61, 61A, and 61B for reporting financial transactions as mandated by the Section 285BA. What is Form 61? Form 61 is for the people who don’t have a Permanent Account Number (PAN). If […]

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Previous Blogs
SFT Form 61A
Posted On | March 31, 2025

Understanding & Reporting Guidelines of the SFT (Form 61A) & FATCA (Form 61B) of the Income Tax Act

Managing finances and staying compliant with the taxes can be tough in India, the Income Tax Act has various forms like Form 61, 61A, and 61B for reporting financial transactions as mandated by the Section 285BA. What is Form 61? Form 61 is for the people who don’t have a Permanent Account Number (PAN). If […]

Read More
traces tds default corrections
Posted On | March 17, 2025

Understanding the TRACES TDS Default Corrections Mechanism

Tax Deducted at Source (TDS) is a crucial aspect of the Indian tax system, ensuring that taxes are collected at the source of income. However, errors and defaults can occur during the filing of TDS statements. To address these issues, the Centralised Processing Cell (TDS) has introduced the TRACES (TDS Reconciliation Analysis and Correction Enabling […]

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TDS on Salaries:
Posted On | March 8, 2025

Understanding TDS on Salaries: A Guide for Employers and Employees

Tax Deducted at Source (TDS) is a mechanism introduced by the Government of India to facilitate the collection of taxes at the source of income.

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TDS Compliances
Posted On | March 1, 2025

Common Mistakes In TDS Compliance And How To Avoid Them

To ensure smooth TDS compliance, businesses should use automated TDS compliance software, set up internal audit mechanisms, and keep updated with the latest tax laws.

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GST Reconciliation for Banks
Posted On | February 22, 2025

Simplifying GST Reconciliation for Banks: Best Practices & Challenges

In today’s complex financial ecosystem, banks are increasingly grappling with the intricacies of Goods and Services Tax (GST) compliance.

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TDS Compliances for Insurance Companies
Posted On | February 8, 2025

TDS Compliances for Insurance Companies: A Comprehensive Overview

Tax Deducted at Source (TDS) is a crucial compliance requirement for insurance companies in India.

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tds tcs compliance finance act 2025
Posted On | February 1, 2025

Amendments Related to TDS/TCS Compliance- Finance Act 2025

This circular provides a detailed overview of amendments introduced in the Finance Act 2025 pertaining to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) compliance. These amendments aim to simplify tax compliance, reduce administrative burdens, and enhance ease of doing business. 1. Introduction of New Tax Regime Slabs The Finance Act 2025 […]

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gst in banking sector
Posted On | February 1, 2025

Compliances of GST in Banking Sector

In our economy, the banking industry is crucial to revenue generation. Following the introduction of GST, the banking industry saw one of the most significant changes. The main objective of the GST was to avoid the double taxation on goods and services.

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TDS on Dividend
Posted On | January 25, 2025

TDS on Dividend: Ensuring Compliance with Tax Regulations

Dividends are a key way for companies to share profits with their shareholders. Under the Income Tax Act, 1961

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