Then are the six deals that can attract an income duty notice for cash deposits
The deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 in India is set for July 31, 2024. While the due date provides a clear timeline for taxpayers to fulfill their tax obligations, it has sparked a debate about its implications. Let's delve into the advantages and disadvantages of having a fixed due date and the effects of extending it.
Comparative Study of Section 148 of Income-tax Act, 1961 - Existing Version Vs. New Version (as substituted by Finance Bill 2024-25)
In the Union Budget of 2024, FM Nirmala Sitharaman introduced this new section of TDS in the Income Tax Act, 1961 i.e. Section 194T. This section imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.
Get the latest TDS rate chart for FY 2024-25 (AY 2025-26)
In Budget 2024, FM has simplified the provisions for reopening and reassessment to reduce tax uncertainty and disputes, providing relief to taxpayers.
A BRIEF DISCUSSION ON THE PROPOSED NEW CHAPTER XIV-B IN THE FINANCE BILL
Income tax slabs are the categories of income levels that determine the rate at which income tax is charged for the applicable financial year (FY) and assessment year (AY).
Due date for filing of Income Tax Return for Individuals is 31st July, but still, many people around the nation have not filed their Income Tax Return. What are the implications of not filing the ITR on time?
Filing an income tax return requires a careful and detailed process. But despite of our best efforts, mistakes happen.
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