Read the full text of the order of ITAT Kolkata in the case of Anirudh Bhuwalka vs DCIT. The ITAT upheld the non-granting of TDS benefits due to non-deposition of TDS in the assessees income.
Marking the 164th Income Tax Day, Finance Minister Nirmala Sitharaman praises CBDT’s efforts in tax administration reforms and ease of compliance.
Get the latest clarification from CBDT on Rule 114F(5) of the Income Tax Rules, 1962. Know the status of Treaty Qualified Retirement Fund and more.
Check the historical Gold and Silver rates from April 1, 1981, to March 31, 2023. Compare prices and analyze trends over the years for 10gms of Gold and 1kg of Silver.
Discover why paying taxes is vital for national development. Explore the role of taxes in funding government services, promoting social welfare, and encouraging responsible citizenship.
Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines and imprisonment for non-compliance with tax regulations.
Article discusses Income Tax Penalties for Failure to deduct TDS / TCS in full and part, Quoting false TAN in challan/ statements, Failure to apply for TAN, Failure to furnish e TDS statement / TDS certificate, Failure to comply with department letter
The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.). In this part you can gain knowledge about the
In Respect of exemptions, deduction etc Income Tax imposes various threshold limit. Like in respect of Tax Rates or in respect of deduction under section 80C, 80D, 80U etc. Some of the Popular Limits are Tax Rates , Conveyance Allowance, HRA, Home Loan Interest, Deduction Under Section 80C, Leave Encashment, Gratuity, Medical
In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2024-25 / F.Y. 2023-24 and subsequent Years. Deductions include deduction Against Salaries, Against ‘income from house properties‘, Against ‘profits and gains of business or profession‘ Against ‘capital gains‘ and Against ‘income from other sources’. Also Read-Allowances […]
