Income Tax Articles

Rent Receipt with Revenue Stamp

Mitali 25 January 2024 at 13:45

A rent receipt is an important document provided by a landlord to a tenant as proof of payment for rent

A Comprehensive Exploration of IFSC Units and Income Tax Deduction

Geetanjali Pandey 25 January 2024 at 09:50

In this comprehensive article, aim is to delve deep into the concept of "IFSC UNIT" and explore the intricacies of the DEDUCTION provided by the Income Tax Act.

Things to be kept in mind before finalization of Books of Account: Income Tax & GST

CA.Sangam Aggarwal 25 January 2024 at 08:49

Finalization of accounts means checking and reconciling books of accounts whether they are as per Companies Act, GST and Income Tax provisions.

Unraveling the Interplay Between Section 138 of the Income Tax Act and Section 22 of the RTI Act

CA Divyajeet Singh Sabharwal 25 January 2024 at 08:49

This article delves into the complex interplay between these two statutes, focusing on the potential conflict between Section 138 of the IT Act and Section 22 of the RTI Act, and its implications.

Section 80E: Tax Saving through Educational Loan

CA Bhawna Dua 25 January 2024 at 08:49

This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educational loans and deductions.

Decoding Section 143(2): Why Issuance of Notice is Crucial for Valid Assessments

Vivek Jalan 24 January 2024 at 08:46

Issuance of notice u/s 143(2) is mandatory and non-compliance of the same will result in nullifying the assessment orders

TDS On Sale Of Property For NRI

CA Ruby Bansal 23 January 2024 at 17:35

While selling a property, the buyer is required to deduct a certain percentage of the sale amount as TDS. TDS on property sale is a mechanism to ensure that taxes are deducted at the time of property transactions.

Deductibility of Interest on Loan Taken for Family Settlement against Capital Gains from Gifted Property

CA Divyajeet Singh Sabharwal 23 January 2024 at 08:50

This article delves into the intricacies of the case, analyzes the relevant legal provisions, and offers a critical perspective on the deductibility of such interest claims.

Section 43B(H) Impact on Outstanding MSME Creditors from FY 23-24 Onwards

CA Sohrabh Jindal 23 January 2024 at 08:50

Deduction and Disallowance in Income Tax on Outstanding creditors registered under MSME from FY 23-24 onwards- Section 43B(h) of Income Tax Act

Mutual Fund Transactions Treated as Investments, Not Business Activities

CA Kunal Jain 22 January 2024 at 13:26

The appeal in question pertains to the Assessment Year (AY) 2006-07, involving a second round of litigation after the Income Tax Appellate Tribunal (the Tribunal) passed an order dated 16.10.2018.