Deduction and Disallowance in Income Tax on Outstanding creditors registered under MSME from FY 23-24 onwards- Section 43B(h) of Income Tax Act
The format is further updated by SEBI in July 2023. Sustainable Reporting Standard Board of ICAI developed the scoring mechanism of BRSR by assigning scores to BRSR.
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.
The Government has notified certain changes in Table 4 of Form GSTR-3B to enable taxpayers to report correct information regarding ITC availed, ITC reversal, ITC re-claimed, and ineligible ITC through Notification No. 14/2022 - CT. Circular 170/2022-CGST also was issued to clarify disclosure practices that can be followed.
BackgroundIn the GST law, the export of goods/services are zero-rated supplies under the IGST act. The intention of the Government is to promote exports from th...
Employees State Insurance (ESI) is administered by the Employees State Insurance Corporation (ESIC) which is a government organization. The program primarily provides financial and medical assistance to workers and their families.
This article aims to guide you through this maze, shedding light on the tax implications of your Ram Mandir donations.
For many taxpayers seeking refunds under the Goods and Services Tax (GST) regime, delays and bureaucratic hurdles can feel like an endless maze. But a recent ray of hope emerged from the Delhi High Court, offering a potential escape route with its directive in one of the case.
Amendment in Section 43B of Income Tax Act, 1961 (Certain expenses to be allowed on payment basis) by insertion of new clause (h) with effect from 01.04.2024
Mesne profits, which are yet to be determined, do not come within the purview of an accrued income for the purposes of Section 4 and 5 of the Income Tax Act till the judgment regarding civil dispute was rendered in this regard.
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