Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and strategic financial planning. These components are pivotal in the Indian income tax system, ensuring the government receives tax revenues periodically throughout the financial year rather than at the end. This article will provide a comprehensive guide on advance tax and

Section 234C of the Income Tax Act, 1961, pertains to the levy of interest for deferment of advance tax. This section is crucial for tax professionals to understand as it impacts the computation of interest liabilities for assessee who fail to pay advance tax instalments within the stipulated deadlines. This article provides an in-depth analysis of Section

Employee Stock Option Plans (ESOPs) are popular mechanisms through which companies attract, retain, and incentivize employees. However, the taxation of ESOPs can be complex, particularly in the Indian context where specific provisions under the Income Tax Act, 1961, govern their treatment. Legal Framework:   Under Indian tax law, ESOPs are considered as perquisites (additional benefits)

Tax Audit Forms The Incomes prescribed two types of forms for tax audit: Audit Report: The audit report would be either as per the Form 3CA or Form 3CB. Form 3CA is for those persons whose accounts have been audited under any law other than the Income Tax laws. Form 3CB is for those persons whose accounts have not been audited under