Income Tax Articles

12 Changes in ITR-6 Form for AY 2024-25

CA. Bhavik P. Chudasama 09 February 2024 at 11:18

CBDT has notified Income-tax Return Form 6 for the Assessment Year 2024-25, vide Notification No. 16/2024, dated 24-01-2024.

How to Import Bank Statements to Tally in 3 minutes?

Aarika 09 February 2024 at 09:52

Bank statements are a fundamental part of accounting. Accountants typically collect the statements from clients on a monthly basis, however, the frequency can vary with some businesses providing statements quarterly or even more frequently, depending on their size, transaction volume, and specific needs.

All about filing an appeal before CIT(A)

CA.Sangam Aggarwal 09 February 2024 at 08:49

The Income-tax Act, 1961 allows tax payers to challenge the orders passed by the AO after the assessment proceedings

How to make TDS challan payment through online - New Process

CA.Sangam Aggarwal 08 February 2024 at 08:57

Process of TDS payment has been changed from NSDL portal to Income Tax Portal. This article highlights the detailed process of making payment of TDS.

Maximizing Tax Benefits for MSMEs: Decoding Section 43B(h) Amendment

Mukul Agrawal 07 February 2024 at 10:24

In a bid to support for Micro, Small, and Medium Enterprises (MSMEs), the recent amendment to Section 43B of the Income Tax Act has brought forth significant changes.

Error in drafting Section 87A of Income Tax Act, 1961

CA Tejas Andharia 05 February 2024 at 10:51

Most of us would be knowing about and have been claiming a rebate under section 87A of Income Tax Act, 1961. But very few of us would be fully aware about the controversial implications of new drafted proviso (b) to this section which is effective from AY 2024-25. Let's see the Section 87A of Income Tax Act, 1961 first.

Decoding Slump Sale: Merger Implications under Companies Act & Income Tax Act

Priyanshi Garg 05 February 2024 at 08:53

Slump Sale means the transfer of one or more undertakings against a lump sum consideration without values being allocated to the individual assets and liabilities.

All about TDS Returns and its Filing Procedure

CA.Sangam Aggarwal 05 February 2024 at 08:53

TDS is required to be deducted by a person for certain payments made by them. Every Assessee who has deducted TDS is required to file TDS Returns. TDS Returns are quarterly statements, which contain the information pertaining to TDS deducted and deposited. It is submitted by person who deducted TDS i.e. TDS deductor.

How to file an appeal before ITAT

CA.Sangam Aggarwal 03 February 2024 at 08:50

Filing an income tax appeal before the Income Tax Appellate Tribunal (ITAT) is a crucial step for taxpayers seeking resolution on disputed tax matters. The relevant section that governs the filing of an appeal before the ITAT is Section 253 of the Income Tax Act. Here's an overview of Section 253: