Income Tax Articles

Key Precautions for Reviewing Income Tax Intimation under Section 143(1)

CA Pallav Singhania 08 April 2024 at 08:45

ere, we highlight key precautions to ensure a thorough review of such intimations, safeguarding taxpayers from potential errors or discrepancies.

Intimation u/s 143(1) of the IT Act

Mitali 06 April 2024 at 15:44

Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.

Cash Transaction Limits under Income Tax Act

CA Shruti Singhal 06 April 2024 at 15:09

The tax audit season is about to begin. This article aims to refresh the existing limits of cash transactions. The Income Tax Act in India discourages cash transactions to promote transparency and curb tax evasion.

A Guide to Early Filing for FY 2023-24 with Automatic Income Tax Form 16 Part B in Excel

Pranab Banerjee 06 April 2024 at 14:13

Income Tax Department Facilitates Early Filing of Returns for FY 2023-24 with Automatic Income Tax Form 16 Part B in Excel for FY 2023-24 as per New and Old Tax Regime

NRI Property Sale: Hassle-Free Guide

CA Arun Tiwari 06 April 2024 at 08:49

In this comprehensive guide, we'll walk you through the step-by-step process for a hassle-free property sale experience. By following these steps, you'll have a clear plan and approach to make your property sale a smooth and successful one.

ITR Utilities for AY 2024-25

Khush Trivedi 05 April 2024 at 10:46

Let’s talk about the utilities provided by Income tax department to simplify the return filling process.

All About West Bengal Profession Tax

CS Karan B. Khattri 03 April 2024 at 08:45

West Bengal Profession Tax is a tax levied on a person engaged in any profession, trade, calling and employment in West Bengal.

How to start a new financial year without becoming a financial fool?

CA Umesh Sharma 01 April 2024 at 14:03

It is the beginning of the new financial year 2024-25. Most taxpayers are curious to know about the things they should keep in mind from the start of the new financial year so that they will not commit the mistakes they made in previous years.

Statutory Tax Compliance Tracker: March 2024

CS Lalit Rajput 01 April 2024 at 10:54

Statutory Tax Compliance Tracker for the m/o March 2024

All about Section 43B(h)

CA. Ankit Chandrakar 01 April 2024 at 08:37

The Finance Act, 2023 inserted a new clause (h) in income tax section 43B that allows deductions made to MSMEs on an actual payment basis rather than the accrual basis if the payment is created within the threshold limit. This clause comes into effect from 1st April, 2023.