Learn about Section 40A(3) of the Income Tax Act, which disallows deductions for cash expenditures exceeding Rs. 10,000. Explore rules, exceptions, and changes.
Understand how Section 143(1) of the Income Tax Act, 1961 processes returns, makes adjustments, and issues intimation or demand notices to assesses.
Chartered Accountants Association, Ahmedabad, requests a one-year postponement of Form 10B & 10BB applicability, citing voluminous data requirements and late notification.
Learn how tax liabilities shift with changes in a firm’s constitution or business ownership, Learn about Section 78, succession rules, and more.
Unlock the intricacies of Section 68 of the Income Tax Act, unraveling the nuances of unexplained cash credits. Delve into its amendments, practical implications, and the onus it places on individuals, firms, and closely-held companies. Gain a comprehensive understanding to navigate the complexities of this crucial taxation aspect effectively.
Explore Public Provident Fund’s benefits, history, eligibility, tax advantages, and more. Understand why PPF is a favored investment choice in India.
Discover the nuances of Section 43B of the Income Tax Act, outlining deductible expenses under the ‘Profits and Gains of Business or Profession.’ Uncover the conditions for deductions, including taxes, employee benefits, interest on loans, and more. Ensure compliance and optimize benefits with expert consultation.
Gain insights on how to handle losses under various income heads as per the Indian Income Tax Act, 1961. Know about sections 70-80 in detail.
Decipher the tax landscape for domestic companies with a comprehensive breakdown of Sections 115BA, 115BAA, and 115BAB. Explore the nuances, conditions, and benefits under each section, offering insights into tax rates for domestic manufacturing companies. Stay informed, optimize tax planning, and navigate compliance effectively.
Understand who must submit an income tax return for AY 2023-24, due dates, forms to use, and late fee provisions. Essential tax filing guide here
