Income Tax Articles

Big Relief for Taxpayers: Budget 2024 Proposes New Section 128A to Waive GST Interest and Penalties

Posted by CA Umesh Sharma 05 August 2024 2820 Views

The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of changes in the Tax laws, there have been talks about the proposed insertion of a new section, Section 128A, in the GST laws.

Expert Analysis: How Recent Income Tax Cases Are Shaping the Future of Taxation

Posted by CA Dipak Dama 05 August 2024 3116 Views

This article comprises of case law summaries from various ITAT benches that highlight crucial aspects of income tax litigation, emphasizing the importance of evidence, documentation, and adherence to statutory provisions.

Budget 2024 & Individual Taxpayers

Posted by FCS Deepak Pratap Singh 03 August 2024 1531 Views

BUDGET-2024 & INDIVIDUAL TAXPAYERS Dear Friends, As you are aware that every year Central Government put its “Statement of Income & Expenditure&rd

Taxation of Alternative Investment Funds (AIFs) - Category I and II

Posted by Affluence Advisory 03 August 2024 1190 Views

Introduction· Alternative Investment Funds (AIFs of Funds) are an investment pooling vehicle that invests in various financial instruments. Such inves

Tax-Free State of Sikkim: Historical and Legal Factors

Posted by Mitali 01 August 2024 1149 Views

Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.

Latest Changes in Property Taxation

Posted by CA.Sangam Aggarwal 01 August 2024 2355 Views

Our Honorable Finance Minister "Nirmala Sitharaman Ji" in the recent Final Budget of 2024 has proposed some important changes regarding taxation of property that will be discussed further in this article.

Unified Tax System? Revenue Secretary's Statement Sparks Debate on Old Regime

Posted by Sachin 31 July 2024 1126 Views

Income Tax Regime: Is the Old System Going to Become History? A Unified Tax System in India? Discussion Stirs Following Statement by Revenue Secretary

Income Tax Refund: Expect Delays This Year Due to New AI Scrutiny System

Posted by Sachin 30 July 2024 6233 Views

This year, taxpayers should anticipate delays in their income tax refunds. The government has implemented a rigorous (Strict) new system for scrutinizing income tax returns (ITRs) using a specially designed, self-automated artificial intelligence (AI) software program.

Income Tax Notice for Cash Deposits - Check These 6 Transactions

Posted by Naina Rajgoplan 29 July 2024 2764 Views

Then are the six deals that can attract an income duty notice for cash deposits

ITR Filing Due Date: July 31, 2024 - A Discussion on Advantages and Disadvantages

Posted by Sachin 29 July 2024 1732 Views

The deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 in India is set for July 31, 2024. While the due date provides a clear timeline for taxpayers to fulfill their tax obligations, it has sparked a debate about its implications. Let's delve into the advantages and disadvantages of having a fixed due date and the effects of extending it.