Income Tax Articles

Change in Taxation of Buy Back Of Shares Effective from October 1, 2024

Posted by CA Praveen 04 September 2024 3091 Views

Analyzing The Liberal Nature of Buyback Provisions Under Section 115QA And Section 10(34A): Budget 2024's Response To Curb Potential Misuse And Tax Arbitrage

No Income Tax Rebate u/s 87A Despite Income Below Rs 7 Lakh: Key Scenarios Explained

Posted by Sachin 04 September 2024 1346 Views

Here's a point-to-point summary of the article about cases where no income tax rebate under Section 87A is allowed, even if the total income is below Rs 7 lakh

Direct Tax Code (DTC): Key Features, Challenges and Criticisms

Posted by Sahil Jaiswal 03 September 2024 4546 Views

The goal of the DTC is to create a tax system that is easier to understand, more equitable, and capable of generating revenue efficiently without causing undue hardship to taxpayers.

Who is Required File Tax Audit Report before September?

Posted by CA Umesh Sharma 02 September 2024 1171 Views

The last date to file the Tax Audit Report is 30th September of the assessment year. It is crucial to adhere to the deadlines to avoid any penalties

Key Features of New e-DRS Scheme

Posted by CS Lalit Rajput 02 September 2024 662 Views

The Central Board of Direct Taxes (CBDT) has introduced a new e-DRS (Electronic Dispute Resolution Scheme) to streamline the process of resolving income tax disputes.

September 2024 Compliance Calendar

Posted by DSC Sign 02 September 2024 411 Views

As a business owner, staying compliant with various statutory requirements is essential for smooth operations and to avoid penalties. For the month of September 2024, there are several key due dates that you should be aware of.

Holding Period for Residential Properties: Allotment or Agreement? A Comparative Analysis

Posted by CA. Bhavik P. Chudasama 31 August 2024 4614 Views

This article aims to shed light on this issue, analyzing relevant case laws and providing a comprehensive understanding of the prevailing legal position.

Towards a Modern Tax System: The Need for a New Income-Tax Act in India

Posted by Sachin 31 August 2024 1680 Views

In her budget speech in July 2024, Finance Minister Nirmala Sitharaman announced a comprehensive review of the Income-Tax Act. The review is expected to be completed before the next Budget, aiming to reduce compliance burdens and improve clarity for taxpayers.

Amendments In Income Tax Act 1961 through Finance Act, 2024

Posted by Suyash Raj Nahata 30 August 2024 6053 Views

The Finance (No. 2) Bill, 2024 was presented by the Hon'ble Finance Minister (FM) Nirmala Sitharaman on 23 July 2024. While moving the Bill for approval by the Lok Sabha on 7 August 2024, the FM introduced amendments to FB (No, 2) 2024 (Amended Bill) and the bill was passed on 16th of August, 2024 in form of THE FINANCE (No. 2) ACT, 2024.

Essential Income Tax Deadlines for September 2024

Posted by Sachin 30 August 2024 1233 Views

Tax planning is vital for effective financial management and avoiding penalties. The income tax department has outlined crucial deadlines for September 2024.