Introduction· Alternative Investment Funds (AIFs of Funds) are an investment pooling vehicle that invests in various financial instruments. Such inves
Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.
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.
Income Tax Regime: Is the Old System Going to Become History? A Unified Tax System in India? Discussion Stirs Following Statement by Revenue Secretary
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.
Then are the six deals that can attract an income duty notice for cash deposits
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.
Comparative Study of Section 148 of Income-tax Act, 1961 - Existing Version Vs. New Version (as substituted by Finance Bill 2024-25)
Long-term capital gains tax rate will be 12.5% for all assets.
In the Union Budget of 2024, FM Nirmala Sitharaman introduced this new section of TDS in the Income Tax Act, 1961 i.e. Section 194T. This section imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.
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