The CBDT has brought a significant change for Indian taxpayers the introduction of AIS 2.0 (Annual Information Statement). The update is aimed at making tax compliance easier, correct, and transparent for individuals, companies, and consultants alike. As tax practitioners, we at Taxflick think this is a positive step towards minimizing tax mismatches, return filing errors,…
What are Online CA Services? Online CA services are electronic portals or professional services that connect businesses and individuals with expert chartered accountants (CAs). Such services include online CA consultation for filing ITR, GST registration, accounting, auditing, and legal and financial guidance. The service of hiring CA online provides convenience for the clients to access…
Income tax consultant plays a prominent role in guiding individuals with tax planning, filing and compliance. No matter what you do if you’re an employee, a business owner tax having an income tax consultant is a merit for you as it reduces liabilities and you’re following the tax guidelines. What are tax consultant services? Major…
Tax auditing is a formal review of a person’s or company’s financial statements and tax returns for conformance with the taxation legislation. The main objective is to confirm the legitimacy of income, deductions, and payment of taxes. Government tax administrations such as the IRS (Internal Revenue Service) in the United States or regional tax departments…
E-Filing of ITR for 2025 Has Begun: Everything You Need to Know The Department of Income Tax in India formally launched the online portal for filing Income Tax Return (ITR) for the Assessment Year 2025–26. All taxpayers—individuals, salaried professionals, freelancers, and businesses alike—can now start submitting their returns for financial year 2024–25. Online filing of…
The TDS refund is the amount returned by the Income Tax Department when excess Tax Deducted at Source (TDS) is deposited. It typically happens when the total tax deducted is more than the actual tax liability of the taxpayer for the concerned financial year. The knowledge of the TDS refund process is important to salaried…
INTRODUCTION Income tax filing is the method of providing your income data and tax-related data to the government for a specific financial year. In India, income tax filing is governed by the Income Tax Act, 1961, and is required for persons, firms, and companies whose incomes are above the specified levels. With the improvement of…
what is income tax Refund? An income tax refund occurs when the taxes paid through methods such as Tax Deducted at Source, advance tax or self-assessment tax exceed the total tax payable for a given financial year. Most salaried employees have their refunds because their employer deducts their taxes based on the estimated amount of…
Income tax plays a very important role in the financial planning that individuals and businesses do. The filing of taxes has been more straightforward and is being done electronically these days to keep abreast with technology. In this guide, we will cover in detail the income tax return filing and e filing for income tax (e-filing income-tax),…