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Budget

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Budget 2024 – Issues in Presumptive Taxation

Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...

July 16, 2024 4734 Views 0 comment Print

Anticipating India’s Budget 2024: Expectations and Projections

Income Tax : Explore India's Budget 2024 expectations and projections, including potential tax relief, increased healthcare and education spend...

July 15, 2024 1056 Views 0 comment Print

Anticipations and Expectations for Budget 2024

Income Tax : Explore the key expectations for Budget 2024, including potential tax reliefs, increased deductions, and economic growth strategie...

July 11, 2024 417 Views 0 comment Print

Rationalise Income Tax Rates to augment income and for better Compliance

Income Tax : Explore rationale behind rationalizing income tax rates in India, its impact on compliance, and potential benefits for taxpayers. ...

June 21, 2024 1107 Views 2 comments Print

Pre Budget Memorandum 2024-25: Tax Base, Avoidance, Litigations

Income Tax : Explore the comprehensive Pre Budget Memorandum 2024-25 addressing crucial aspects like tax base expansion, avoidance mitigation, ...

June 19, 2024 25137 Views 3 comments Print


Latest News


Postmortem of Union Budget 2024: A Comprehensive Webinar

Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...

July 16, 2024 3840 Views 3 comments Print

Rajasthan Budget 2024-25 Tax Proposals

Goods and Services Tax : Explore Rajasthan Budget 2024-25 tax proposals with reductions in VAT rates, abolition of certain taxes, and new incentives. Detai...

July 10, 2024 459 Views 0 comment Print

Budget 2024 Proposals: GST & Income Tax Amendments

CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...

June 29, 2024 5280 Views 0 comment Print

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3255 Views 0 comment Print

Suggestions for Union Budget 2024-25 in Direct Tax Domain

Income Tax : Explore comprehensive suggestions for Union Budget 2024-25 in direct tax domain, addressing key reforms and their potential impact...

June 17, 2024 1083 Views 0 comment Print


Latest Judiciary


Plea in Madras HC on Penalty on CAs for Filing Wrong Information- Section 271J

Income Tax : A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2...

May 9, 2017 4908 Views 2 comments Print

In all cases where additional evidence is admitted, the CIT (A) should be considered to have exercised his powers u/s 250(4) is not acceptable

Income Tax : U/s 250(4), the CIT (A) has the power to direct enquiry and call for evidence from the assessee. Under Rule 46A, the assessee has ...

March 18, 2012 2264 Views 0 comment Print


Latest Notifications


Budget 2024: CBDT invites Suggestions on changes in direct & indirect taxes 

Income Tax : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...

June 12, 2024 849 Views 0 comment Print

Finance Act 2024: President Grants Assent

Income Tax : On February 15, 2024, President Droupadi Murmu granted his assent to the Finance Act 2024 (Budget 2024), officially bringing the g...

February 15, 2024 5685 Views 0 comment Print

Government announces Remission of Income Tax Demands as per Budget 2024

Income Tax : Explore the details of F. No. 375/02/2023 - IT-Budget by the Ministry of Finance. Learn about the remission of outstanding tax dem...

February 13, 2024 12318 Views 0 comment Print

Updation of changes vide Budget 2024-25 in System

Custom Duty : Explore the impact of Budget 2024-25 updates by the Office of the Pr. Commissioner of Customs. Learn about changes, timelines, and...

February 1, 2024 825 Views 0 comment Print

Finance Bill, 2024 for Interim Budget 2024-2025

Income Tax : The Finance Bill, 2024, also known as Bill No. 14 of 2024, is a legislative proposal introduced in the Lok Sabha, the lower hous...

February 1, 2024 8406 Views 0 comment Print


‘Rummy Khelo Paisa Jeeto’ is Now Taxable under Section 115BBJ

April 9, 2023 3528 Views 1 comment Print

Discover the taxation changes for online game winnings under Section 115BBJ and Section 194BA introduced by the Finance Bill, 2023. Stay informed about the 30% TDS on net winnings from games like Dream11 and Rummy, applicable from July 1, 2023. Ensure compliance to avoid penalties.

Taxation Simplified: Understanding the Impact of Budget 2023 on Your Wallet

April 8, 2023 7650 Views 2 comments Print

The Budget! Whether it’s your teenage Goa trip, planning for a baby, arranging funds for an event, or planning for the future of your family or institution, we all need to do it; we all need to plan for it. But let’s be honest, the game is on a whole another level for the central government.

Amendment in Section 43B of Income Tax related to MSME

April 6, 2023 64416 Views 6 comments Print

Stay updated on the recent amendment to Section 43B of the Income Tax Act related to MSME. Explore the impact on expense deductions, payment timelines, and compliance with the MSMED Act, 2006. Ensure timely payments to Micro and Small Enterprises to avoid disallowances and interest implications.

Finance Act, 2023: Amendment to definition of ‘Sikkimese’ only for Income Tax

April 5, 2023 1545 Views 0 comment Print

Term Sikkimese defined in section 10(26AAA), is only for the purposes of Income-tax Act, 1961 & not for any other purpose

What You Need to Know About Income Tax Amendments applicable from FY 2023-24

April 4, 2023 91050 Views 3 comments Print

Understand the key Income Tax Amendments from FY 2023-24. Learn about changes in tax regimes, exemptions, and impacts on individuals, businesses, and trusts.

Deep Analysis of Section 43B(h) Applicable from Financial Year 2023-24

April 3, 2023 19335 Views 1 comment Print

Uncover the implications of Section 43B(h) under the Income Tax Act, 1961, effective from FY 2023-24. Dive into the analysis, responsibilities on auditors, and the impact on sundry creditors. Stay informed for seamless financial compliance.

Income Tax Calculator Financial Year 2023-24 (AY 2024-25)

April 3, 2023 286689 Views 23 comments Print

Download Automatic Income Tax Calculator in Excel Format for Financial Year 2023-24 (AY 24-25) for salaried employees of government & private sector.

ITC eligibility of CSR expenditure under GST & Finance Bill, 2023

April 1, 2023 7809 Views 0 comment Print

Section 16(1) of CGST Act, 2017 provides that input tax shall be allowed on goods or services which are used or intended to be used in the course or furtherance of business. Further, Section 17(5) disallows credit on certain goods and services.

Exemption of 7,00,000 under New Tax Regime for Financial year 2022-23?

April 1, 2023 24066 Views 3 comments Print

Clarifying the misconception: No tax exemption of Rs. 7,00,000 under New Tax Regime for FY 2022-23. Understand the correct slabs, deductions, and tax implications for the financial year.

Finance Act, 2023

March 31, 2023 18336 Views 0 comment Print

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 31st March, 2023 / Chaitra 10, 1945 (Saka) The following Act of Parliament received the assent of the President on the 31st March, 2023 and is hereby published for general information:— THE FINANCE ACT, 2023 No. 8 OF 2023 [31st March, 2023.] An Act to […]

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