Income Tax Articles

Uncovering Unexplored Dimensions: A 2024 Perspective on the Landscape of Online Gaming in India

CA Praveen 04 September 2024 at 14:15

The Indian gaming market saw a significant surge, reaching $2.6 billion in FY22, and is anticipated to escalate to $8.6 billion by FY27

How to Report Gambling Winnings on Taxes

CA Ruby Bansal 04 September 2024 at 12:53

Let's look at the basics of what you should know about reporting any online casino or other gambling winnings on your annual taxes.

Change in Taxation of Buy Back Of Shares Effective from October 1, 2024

CA Praveen 04 September 2024 at 08:49

Analyzing The Liberal Nature of Buyback Provisions Under Section 115QA And Section 10(34A): Budget 2024's Response To Curb Potential Misuse And Tax Arbitrage

No Income Tax Rebate u/s 87A Despite Income Below Rs 7 Lakh: Key Scenarios Explained

Sachin 04 September 2024 at 08:37

Here's a point-to-point summary of the article about cases where no income tax rebate under Section 87A is allowed, even if the total income is below Rs 7 lakh

Direct Tax Code (DTC): Key Features, Challenges and Criticisms

Sahil Jaiswal 03 September 2024 at 10:51

The goal of the DTC is to create a tax system that is easier to understand, more equitable, and capable of generating revenue efficiently without causing undue hardship to taxpayers.

Who is Required File Tax Audit Report before September?

CA Umesh Sharma 02 September 2024 at 13:13

The last date to file the Tax Audit Report is 30th September of the assessment year. It is crucial to adhere to the deadlines to avoid any penalties

Key Features of New e-DRS Scheme

CS Lalit Rajput 02 September 2024 at 10:05

The Central Board of Direct Taxes (CBDT) has introduced a new e-DRS (Electronic Dispute Resolution Scheme) to streamline the process of resolving income tax disputes.

September 2024 Compliance Calendar

DSC Sign 02 September 2024 at 08:25

As a business owner, staying compliant with various statutory requirements is essential for smooth operations and to avoid penalties. For the month of September 2024, there are several key due dates that you should be aware of.

Holding Period for Residential Properties: Allotment or Agreement? A Comparative Analysis

CA. Bhavik P. Chudasama 31 August 2024 at 17:36

This article aims to shed light on this issue, analyzing relevant case laws and providing a comprehensive understanding of the prevailing legal position.

Towards a Modern Tax System: The Need for a New Income-Tax Act in India

Sachin 31 August 2024 at 08:35

In her budget speech in July 2024, Finance Minister Nirmala Sitharaman announced a comprehensive review of the Income-Tax Act. The review is expected to be completed before the next Budget, aiming to reduce compliance burdens and improve clarity for taxpayers.