Finalization of accounts means checking and reconciling books of accounts whether they are as per Companies Act, GST and Income Tax provisions.
This article delves into the complex interplay between these two statutes, focusing on the potential conflict between Section 138 of the IT Act and Section 22 of the RTI Act, and its implications.
This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educational loans and deductions.
Issuance of notice u/s 143(2) is mandatory and non-compliance of the same will result in nullifying the assessment orders
While selling a property, the buyer is required to deduct a certain percentage of the sale amount as TDS. TDS on property sale is a mechanism to ensure that taxes are deducted at the time of property transactions.
This article delves into the intricacies of the case, analyzes the relevant legal provisions, and offers a critical perspective on the deductibility of such interest claims.
Deduction and Disallowance in Income Tax on Outstanding creditors registered under MSME from FY 23-24 onwards- Section 43B(h) of Income Tax Act
The appeal in question pertains to the Assessment Year (AY) 2006-07, involving a second round of litigation after the Income Tax Appellate Tribunal (the Tribunal) passed an order dated 16.10.2018.
This article aims to guide you through this maze, shedding light on the tax implications of your Ram Mandir donations.
Mesne profits, which are yet to be determined, do not come within the purview of an accrued income for the purposes of Section 4 and 5 of the Income Tax Act till the judgment regarding civil dispute was rendered in this regard.
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