Income Tax Rules on Cash Transaction Between Husband-Wife and Son-Father, Know Rules - Business League

Write: Jorge Picón, attorney and tax specialist.A typical error of taxpayers is to think that if the law has not changed, it is not necessary to change the way to make a tax return to the tax administration. However, there are two large variables that should always be taken into account in the annual DJ of the IR: Corroborate if the rules to determine the tax obligation of the IR have changed. The rules for determining the tax applicable to the …

Making Tax Digital for business income tax

How small business owners pay income tax is set to change. From 2026, there’ll be a phased switch to Making Tax Digital (MTD) – which will replace the annual Self Assessment process with quarterly tax returns.  Find out how to prepare for these MTD Self Assessment changes – plus the key dates you need to know. What is Making Tax Digital? MTD for income tax MTD deadlines Making Tax Digital records Making Tax Digital penalties MTD for income tax…

Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules - Business League

Income tax rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… Income tax rules: If you also transact money between father and son or between husband and wife, then this news is useful for you.…