No section 10AA deduction to an assessee who does not furnish a return of income on or before the due date specified under section 139(1)
Section 43B of the Act provides, inter-alia, that any sum payable by the assessee as interest on any loan or borrowing from a Deposit taking Non-Banking Financial Company and Systemically Important Non-Deposit taking Non-Banking Financial Company shall be allowed as deduction on payment basis.
Clause (iv) of section 28 amended to clarify that it also applies to cases where benefit or perquisite provided is in cash or in kind or partly in cash and partly in kind.
Conditions are required to be satisfied in case of application for charitable or religious purposes to be satisfied while making application from corpus or loan or borrowing.
Understand the changes to TDS on payment of accumulated balance due to an employee per Budget 2023 with this blog post. Read now
Taxpayers can get TDS credit for income already disclosed in earlier returns with budget 2023. Learn how it can help you avoid TDS mismatch.
Relief for non-filers of income-tax returns from higher TDS/TCS rate – Budget 2023 Section 206AB & 206CCA provide special provision for higher TDS/TCS rate for non-filers.
Interest payable under section 234B shall be computed on an amount equal to the assessed tax as reduced by the amount of advance tax, the credit for which has been claimed in the earlier return, if any.
Budget 2023 brings non-resident investors within the ambit of section 56(2)(viib) of the Act to eliminate tax avoidance possibilities.
In cases where a search under section 132 is initiated or a search for which the last of the authorization is executed or requisition is made under section 132A, after the 15th March of any financial year a period of fifteen days shall be excluded for the purpose of computing the period of limitation for issuance of notice under section 148 and the notice so issued shall be deemed to have been issued on the 31st day of March of such financial year.
