Income Tax Articles

Budget 2024: Income Tax Slabs Rates for AY 2025-26 and Other Updates

Sparsh Wadhwa 02 February 2024 at 08:58

Finance Minister Nirmala Sitharaman today on February 1 presented the Union Budget 2024 inside the Lok Sabha. No changes have been introduced in the tax slabs in old and new tax regimes.

Analysis on New Clause (H) of Section 43B of the Income tax Act, 1961

CA. Nirmeet Shah 02 February 2024 at 08:58

The Finance Bill 2023 has introduced a significant amendment to the Income Tax Act, 1961, relating to Micro and Small Enterprises (MSMEs) which is applicable from 1st of April, 2023.

Treatment of Shares Premium received by closely held company on issue of shares

CA.Sangam Aggarwal 31 January 2024 at 08:51

Before understanding the tax treatment of premium received by closely held company on issue of shares under section 56(2)(viib) of Income Tax Act, 1967 lets discuss the problem before introduction of this section with the help of example.

How to respond to Income tax notices of non-filing of ITR of previous years?

Sparsh Wadhwa 31 January 2024 at 08:51

In this article, we can discover the reasons for receiving those notices, the capability results, and the steps people can take to deal with the scenario.

All you need to know about Section 194F of the Income Tax Act

Ishita Ramani 30 January 2024 at 14:22

This article aims to provide a comprehensive understanding of Section 194F and its implications for taxpayers.

Sec 43B(h) of Income Tax Act

CA Shruti Singhal 30 January 2024 at 09:02

One of the major problems being faced by the MSMEs entities is not-getting their dues from their buyers on a timely basis.

Statutory Tax Compliance Tracker - February 2024

CS Lalit Rajput 29 January 2024 at 09:55

Tax Compliance Tracker for the month of February 2024

TDS and GST on Rent

CA AJIT YADKIKAR 27 January 2024 at 14:34

Rent is the payment made for tenancy, lease, sub lease or other arrangements for use of property or machinery, furniture or other assets.

Recent Income Tax Case Laws

Venkat Raj 26 January 2024 at 07:43

Through this write-up, let us analyze key income tax judgments from the income tax appellate tribunal, the high court, and the Supreme Court.

Analysing the Deductibility of Actor's Fitness Expenses

CA Divyajeet Singh Sabharwal 26 January 2024 at 07:36

When the curtain falls on the silver screen, and the spotlight shifts to the realm of income tax, the question of deductibility for actor's fitness expenses ignites a heated debate, leaving both actors and tax authorities grappling with a labyrinth of arguments and legal grey areas.