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Income tax return filing, Tax Audits

Chartered Accountants in Mumbai
Open today until 7:00 PM
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Updates

Recent update from gujarat high court in landmark case of pcit vs jigar yashwant shah order dated 28 August 2023 in tax appeal 80 & 96 of 2023 on widely impacting issue of taxability from mere allotment of shares (here right shares ) u/s 56(2)(viic) of 1961 Act in hands of share subscriber held a...

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More on Notices U/S 133(6):

1. Last year, a notices were issued to salaried class taxpayers related to fake deduction claimed by them in their Income Tax return and claiming refund from income tax department. All these notices were issued U/s 133(6) of Income Tax Act.

2. The scope of Section 1...

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Write-Off Of A Bad Debt Can’t Be Held To Be An Asset Under Section 153A(1) Of The Income Tax Act, 1961: Bombay High Court

Ashok Commercial Enterprises (WP-2595-2021 & ORS)

Facts:
1. The petitioner/assessee is a partnership firm engaged in the business of financing, i.e., giving loans to parties...

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*Amendment*
The *New Guidance Note on Tax Audit* introduces additional responsibilities for *tax auditors* regarding *GRATUITY*.

1) Checking and reporting whether *provision for Gratuity* is made in the company's accounts *(AS 15 or Ind AS 19*) for mercantile system accounting. *If not*, to be ...

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CBDT notifies rules to calculate life insurance income where premium exceeds Rs.5 lakh

1. The Central Board of Direct Taxes (CBDT) issued a notification no. 61/2023, on 16 August notifying new guidelines under Section 10(10D) of the Income Tax Act, 1961, prescribing a mechanism for calculating ...

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*News for Maharashtra Conveyance Deed Cancelled:* 🙋🏻‍♂

*Flat Owners will Get Their Name Registered in the Property Card of Revenue/Municipal Register. Maharashtra State's Cabinet Approved it in Principle, at its Meeting Held Yesterday. New Law will be Passed to Surpass The Procedure of Conveya...

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TDS not required to be deducted on commission paid to overseas agents: Delhi HC
Case Title: PCIT Versus Maharani Enterprises
Case No.: ITA 22/2021

Facts:
1. The respondent/assessee had sought a deduction of expenditure, which was the commission paid to agents overseas, but had not deducted the ...

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Income Tax deduction for scientific research:
1. Where any assessee carries out any research of scientific nature related to the business carried on by him, 100% expenses are deductible in the following manner (Sec 35(1)(I) and Sec 35(1)(iv):

a. Expenditure incurred BEFORE the commencement of b...

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*Notification No. 31/2023- Central Tax dated 31.07.2023*

*Notification No. 32/2023- Central Tax dated 31.07.2023*
exempts the registered person whose aggregate turnover in the financial year 2022-23 is up to two crore rupees, from filing annual return for the said financial year.

*Notification ...

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Testimonials

a year ago
Very good firm for Articles/ Interns looking for an exposure in mid size firm. The firm allows you to learn, explore your skills and enhance your knowledge here in the various services provided by CA firm. Team is very supportive in work & your overall growth. Also with practical training you can manage your studies well here. Simply the exposure is brilliant.
- Niraj S
6 years ago
Have been working with them since April 2016. So far the experience has been excellent. Would definitely recommend them blindly. I found out oj internet about RakChamps. I was skeptical earlier, but had to try one. And am glad i approached them and decided to work with them.
- Rimple S
5 years ago
I filed my returns with this firm and I highly recommend them to everyone. Honest working staff and supportive. Very talented and best at their work. Thank u Rakchamps.
- Usha R

Income tax filing, notice, audit, GST

Income tax filing/responding or hearing for notices, Audit , GST, Compliance, assurance, Management audit, revenue leakage, Business performance evaluation,  support for setting up new venture/factory/business. Major support for your business.

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Contact

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  • 095946 11555
  • 022 6127 3996

Address

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GF-9, H-Wing, Building No. 2, Rock Enclave
Next to SBI, Hindustan Naka, Kandivali west
Mumbai, Maharashtra 400067
India

Business Hours

Mon:10:00 AM – 7:00 PM
Tue:10:00 AM – 7:00 PM
Wed:10:00 AM – 7:00 PM
Thu:10:00 AM – 7:00 PM
Fri:10:00 AM – 7:00 PM
Sat:Closed
Sun:Closed
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