Income Tax Articles

Income Tax Compliance Due Dates - July 2024

Posted by Ishita Ramani 04 July 2024 1632 Views

In this article, we will look at the compliance calendar for July 2024, which includes Income tax compliances/PF/ESI.

Final Checklist before Filing ITR for FY 23-24

Posted by CA Pallav Singhania 02 July 2024 3448 Views

Filing an income tax return (ITR) is a crucial annual task for taxpayers, ensuring compliance with tax laws and facilitating smooth financial planning. As the Financial Year (FY) 2023-24 draws to a close, it is imperative to be well-prepared and informed before filing your ITR. Here are the key considerations to keep in mind.

A Guide to Tax Benefits of a Hindu Undivided Family (HUF)

Posted by Ishita Ramani 27 June 2024 1009 Views

In this article, we will discuss the meaning of a Hindu Undivided Family, the tax benefits of a Hindu Undivided Family, and the drawbacks of a Hindu Undivided Family.

My income is below the basic exemption limit. Should I file a Nil Return?

Posted by Mitali 25 June 2024 1458 Views

NIL Return means when an individual filed Income Tax Return which is below the threshold limit. While it not so mandatory if you have no taxable income for the year. But it can be beneficial for record-keeping and other administrative purposes.

Why Bank Account Validation is Crucial for Your Tax Refund?

Posted by Priya Mulukutla 24 June 2024 1569 Views

The Income Tax Department gave an important update regarding the Validation of Bank Accounts. The Department took to X (formerly known as Twitter) to bring the taxpayers' attention to the necessity of validating bank accounts for the smooth receipt of refunds.

A Simple Guide to Decode the Password for Form 16

Posted by Ishita Ramani 22 June 2024 2588 Views

In this article, we will discuss how to decode Form 16 and obtain the TDS certificate password to file income tax returns.

Summary On Implications Of Section 43B(h) - Payments Made To MSME

Posted by Sai Nithyashri 22 June 2024 2403 Views

These amendments will take effect from April 1, 2024, and will, accordingly, apply in relation to the assessment years 2024-2025 and subsequent assessment years.