Section 40A(2) of the Income Tax Act lays down provisions for the disallowance of certain payments to relatives. Let us discuss persons covered u/s 40A(2)(b).
This Article has an Automatic Income Tax Calculator in Excel Format for Financial Year 2023-24 (AY 24-25). The income Tax Calculator is Useful for salaried employees of the government and private sector.
For issuance of Low TDS Certificate, AO cannot see profitability of assesses; But has to rely on 4 principles of Rule 28AA
In this article, we will explore five significant problems in GST system.
Discussing Section 194LBA of the Income Tax Act 1961, which deals with the TDS on Certain Income from Units of a Business Trust including its meaning, rate of TDS, eligibility requirements etc.
From securing your future with investments in EPF, PPF, or ELSS, to safeguarding your loved ones with life insurance premiums, 80C offers a treasure trove of opportunities.
Some issues in Refund of unutilized ITC
In this article, we will take a closer look at Section 43B and understand its various aspects.
Clubbing of income refers to the practice of treating the income of one person as the income of another person for the purposes of taxation. This is usually done in cases where the income is earned by one person but is intended to benefit or be used by another person.
So as to claim a GST refund, the taxpayer has to adhere to certain processes, provide the GST authorities with the appropriate documentation, and make any necessary disclosures.
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