Income Tax Articles

Waiver of Interest or Penalty or both: Section 128A

Posted by CA Amit Harkhani 15 October 2024 1201 Views

INTRODUCTIONSection 128A, as proposed by the Finance Act, 2024 (No. 2), dated 16.08.2024, through Section 146, was notified via Notification No. 17/2024 - Centr...

Claiming Income Tax Refunds: CBDT's New Rules from October 2024

Posted by Sahil Jaiswal 14 October 2024 664 Views

Starting October 2024, the Central Board of Direct Taxes (CBDT) introduced new guidelines to streamline the process for taxpayers seeking income tax refunds or carrying forward losses, especially in cases where they missed the original filing deadlines.

Tax Benefits and Financial Implications of Forming a Holding and Subsidiary Company

Posted by Ishita Ramani 12 October 2024 536 Views

In this article, we shall discover the key tax benefits and monetary implications of organizing a holding and subsidiary company.

Income Tax Exemption for Senior Citizens: Benefits You Shouldn't Miss in 2024

Posted by Ishita Ramani 10 October 2024 363 Views

This article will thoroughly outline the important aspects of income tax exemptions for senior residents in 2024, assisting them to navigate their tax-making plans effectively.

How the Different Types of Assessment in Income Tax Affect Your Business Filing

Posted by Ishita Ramani 08 October 2024 261 Views

For companies, income tax submission isn't always just a prison requirement however also a sizable part of preserving financial fitness and compliance. The sort...

Supreme Court Ruling on Reassessment Notices: 90,000 Taxpayers Affected by SC Verdict

Posted by Sahil Jaiswal 07 October 2024 391 Views

The recent Supreme Court ruling on tax reassessment notices has significant consequences for around 90,000 taxpayers. The verdict upholds the validity of reasse...

Common Time Limit for Demand Notices: Key Implications for Cases Involving Fraud, Suppression, or Willful Misstatement

Posted by Bimal Jain 05 October 2024 227 Views

Common time limit for issuing demand notices and orders, regardless of whether the case involves fraud, suppression or willful misstatement

How Section 194F Impacts Mutual Fund Investment Process in India

Posted by Ishita Ramani 05 October 2024 650 Views

This article provides insights into how Section 194F influences the mutual fund investment procedure, the responsibilities of fund homes, and the effects on investors.

How to Claim the Foreign Tax Credit with Form 67

Posted by CA Arun Tiwari 04 October 2024 584 Views

This guide focuses on Form 67 and helps one get the most from every opportunity that enables one to optimise their tax position.

Tax Audit Due Date Extended: Boon for Taxpayers or an Unneeded Measure?

Posted by Sahil Jaiswal 03 October 2024 10118 Views

The extension of tax audit due dates often sparks debate between taxpayers and authorities. Whether it’s seen as a boon or an unnecessary measure largely depends on the perspective and context surrounding the decision.