06
Jun
Understanding Tax Implications for Professional Income above 50 Lakhs
Understanding Tax Implications for Professional Income above 50 Lakhs: Expert Guidance from Alliance Tax ExpertsIntroduction:When professional receipts exceed 50 Lakhs, it's crucial to navigate the tax implications effectively. In such cases, professionals are ineligible for the benefits of Presumptive Tax under Section 44ADA. Instead, they must prepare a Profit &…
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03
Jun
A Guide to Online ITR2 Filing for FY2022-23 AY 2023-24
A Guide to Online ITR2 Filing for FY2022-23 (AY 2023-24)Introduction:Filing income tax returns (ITR) is an essential obligation for individuals and entities in India. The Income Tax Department has made significant strides in simplifying the tax filing process by introducing online platforms. In line with this, the online ITR2 form…
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