Income Tax Articles

Allowability of Interest on delayed payment of TDS

CA VIVEK JALAN 12 March 2024 at 08:53

For claiming an expenditure while determining the taxable income, an assessee should satisfy the twin conditions of allowance of expenditure pursuant to the provisions of Sec. 30 to 37 of the Act.

Understanding Income Tax Return (ITR): A Comprehensive Guide

CMA Sonam Verma 12 March 2024 at 08:53

This article aims to provide a comprehensive guide to understanding ITR, including its significance, different types, and the process of filing.

Section 115H for NRIs: Tax Benefits Unveiled

CA Arun Tiwari 11 March 2024 at 08:38

In this article, we'll delve into the intricacies of Section 115H and its benefits for NRIs in managing their tax responsibilities.

Strategies for the New Tax Regime in the Changing Landscape of Tax-Saving Investments

CA Rakesh Ishi 08 March 2024 at 16:38

IntroductionWith the implementation of the new tax regime, the emphasis on tax-saving investments has switched from just lowering taxable income to aligning inv..

A Taxing Tale: Aahil and Vivaan Discuss Advance Tax

CA. Bhavik P. Chudasama 08 March 2024 at 12:52

Smart thinking! Advance tax can be a bit tricky, but once you understand it, it's actually a good system.

Types of Taxes: Direct Tax and Indirect Tax

Khush Trivedi 08 March 2024 at 11:38

As we know Indian taxation system which comprises various types of Taxes but let's understand it in broader view let's check out with the word "TAX"

Income Tax For Senior Citizens FY 2023-24

Priya Mulukutla 07 March 2024 at 11:14

There are several benefits in the Income Tax Act available for senior and super senior citizens to claim to reduce their tax burden.

Section 43B(h): Disallowance and Precautions to be taken while making payment to MSMEs before 31st March 2024

CA Bhawna Dua 07 March 2024 at 08:44

A new clause inserted by the Finance Act of 2023 allows deductions made to MSMEs on an actual payment basis instead of an accrual basis if the payment is made within the threshold limit.

Standard Deduction For Salaried Individuals FY 2023-24

Priya Mulukutla 06 March 2024 at 14:21

The standard deduction for salary income in India was abolished in the Finance Act of 2005-06. At that time, the standard deduction was removed as part of the government's efforts to simplify the tax structure.

Form 10F and its Filing Procedure

CA.Sangam Aggarwal 06 March 2024 at 08:41

The CBDT notified Rule 21B prescribing the additional information that is required to be furnished by non-residents along with TRC in prescribing Form-10F.