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You may get a message like this from the Tax department. What does this mean?

Attention ABC PRIVATE LIMITED (PAN XXXXXXX90X), Income Tax Department has received information about certain high value financial transactions relating to FY 2020-21. Please view transactions under e-Campaign tab on Compliance Portal (CP) and remember to pay appropriate advance tax. Access CP by logging into e-filing portal and clicking on ‘Compliance …

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Why no Income Tax on Agricultural Income?

The Constitution of India is the supreme law of India. It contains 395 articles (similar to Sections) and 12 Schedules. The distribution of powers between the Union and the States is defined in several Articles and Schedules. One such Schedule, namely, the 7th Schedule, which contains 3 lists; allocates the …

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