Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sections 44AD, 44ADA, and 44AE of the Income Tax Act. These sections, aimed at simplifying tax compliance for certain taxpayers, face scrutiny for their applicability, concessions, and implications on business operations. WHETHER THE PROBLEMS IN THE PRESUMPTIVE TAXATION WILL […]
Explore rationale behind rationalizing income tax rates in India, its impact on compliance, and potential benefits for taxpayers. Read more about proposed reforms and their implications.
Explore the comprehensive Pre Budget Memorandum 2024-25 addressing crucial aspects like tax base expansion, avoidance mitigation, and litigation reduction. This strategic roadmap outlines proposals for a fair, responsive, and growth-oriented tax ecosystem, providing insights into improving India’s taxation framework
Delve into AIS, TIS, and Form 26AS to discern if they aid or perplex the taxpayer. Learn about their contents, differences, and the need for simplification.
Explore the effects of automation on taxpayers and the Income Tax Department. Discover the challenges, benefits, and areas for improvement in this detailed analysis.
Discover whether the newly introduced Section 43B(h) of the Income Tax Act is a Boon or a Bane for MSMEs. Is it an opportunity for Industrialists or a possible challenge?
Explore potential amendments to presumptive taxation, concerns about the New Tax Regime impact, and insights on Faceless Assessment in the recent interim budget. Understand the proposed withdrawal of outstanding demands and its implications.
Proposed reforms in tax procedures: shorten rectification processing time, allow partial payment for appeals, and streamline collection stay requests.
Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents.
Explore the concept of Tax Collected at Source (TCS) and its intended purpose. This article discusses the recent increase in TCS rates, its impact on individuals, and proposes keeping the rates between 0.5% to 1% for the benefit of taxpayers and the Income Tax Department.
