Proposals for simplifying the Income Tax Act: restoring deductions, lowering TCS, improving assessments, and introducing uniform taxation for a more transparent and fair tax system for individuals and trusts.
Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.
Discover the impact of Budget 2024 amendments: removal of indexation and new TDS on partner salaries in partnership firms. In-depth analysis and critical insights.
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.
