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TDS Deduction under Old vs New Tax Regime & Budget 2023 Impact

Income Tax : In which scheme shall I get my TDS deducted? Old Vs New Tax Regime and impact of Budget 2023! This is most important question, on ...

April 6, 2024 52935 Views 4 comments Print

Taxation of Debt Funds

Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...

March 29, 2024 2373 Views 0 comment Print

Budget: The Beacon of Evolution

Finance, Income Tax : Explore the impact of Indias budget evolution in 2024, focusing on economic growth, reducing disparity, and strategic resource all...

March 12, 2024 153 Views 0 comment Print

Tax planning strategies: Insights from India’s Finance Act 2023

Income Tax : Unlock the latest Income Tax Act changes for FY 24-25 with our guide on slab rates, business income, trust taxation, TDS/TCS, and ...

February 28, 2024 2757 Views 1 comment Print

Changes in provisions relating to Input Service Distributor (ISD): Finance Act, 2024

Goods and Services Tax : Understand the proposed changes in Input Service Distributor (ISD) provisions post-Finance Act, 2024. Dive into altered definition...

February 24, 2024 4683 Views 0 comment Print


Latest News


ICAI submits Pre-Budget Memorandum to CBDT advocating Tax Reforms

CA, CS, CMA : Read about the Institute of Chartered Accountants of India's Pre-Budget Memorandum 2024 submission, advocating tax incentives for ...

April 30, 2024 1209 Views 0 comment Print

Parliament’s Interim Budget Session 2024 Concludes Successfully

Finance : Interim Budget Session 2024 sees high productivity with 12 Bills passed, Lok Sabha and Rajya Sabha exceeding performance targets....

February 12, 2024 534 Views 0 comment Print

Highlights of Finance Bill, 2024

Income Tax : Explore the key highlights of Finance Bill 2024, covering tax rate updates, deduction amendments, faceless scheme implementation, ...

February 2, 2024 3153 Views 0 comment Print

Interim Union Budget 2024-25: A Vision for India’s Development

Finance : Explore the key highlights of the Interim Union Budget 2024-25, focusing on economic growth, social initiatives, and fiscal polici...

February 2, 2024 840 Views 0 comment Print

Interim Budget 2024 Summary (Direct Tax And Indirect Tax)

Income Tax : Explore the key highlights of Budget 2024, featuring tax rate continuity, withdrawal of outstanding direct tax demands, significan...

February 1, 2024 1272 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 4899 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 2246 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 324 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 5361 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 11352 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 753 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 8139 Views 0 comment Print


Extension of Income Tax exemption to Specified Undertaking of Unit Trust of India

February 5, 2023 1041 Views 0 comment Print

Learn how the Extension of Income Tax exemption to Specified Undertaking of Unit Trust of India (SUUTI) impacts Budget 2023. Providing for alternative mechanism for vacation of office of the Administrator, as per the UTI Repeal Act, 2002.

Decriminalisation of section 276A of Income Tax Act, 1961

February 5, 2023 3105 Views 0 comment Print

Section 276A of the Act makes provision for prosecution with rigorous imprisonment up to two years in the case of a person, being a liquidator who fails to give notice in accordance with sub-section (1) of section 178, or fails to set aside the amount as required by sub­section (3) of the said section or parts with any of the assets of the company or the properties in contravention of the provisions of the said section.

Accommodation deemed to be provided at a concessional rate – Budget 2023

February 5, 2023 3684 Views 0 comment Print

Accommodation shall be deemed to have been provided at a concessional rate if the value of the accommodation computed in the prescribed manner exceeds the rent recoverable from, or payable by, the assessee.

No section 10AA deduction if return of income not filed before due date

February 5, 2023 3237 Views 0 comment Print

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)

NBFC categorization for Section 43B & 43D of Income Tax Act, 1961

February 5, 2023 5418 Views 0 comment Print

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.

Section 28(iv) also applies to cases where benefit or perquisite provided in cash or in kind

February 5, 2023 9876 Views 0 comment Print

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.

Budget 2023: Application for charitable or religious purposes from corpus or loan or borrowing

February 5, 2023 5328 Views 0 comment Print

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.

TDS on payment of accumulated balance due to an employee – Budget 2023

February 5, 2023 3306 Views 1 comment Print

Understand the changes to TDS on payment of accumulated balance due to an employee per Budget 2023 with this blog post. Read now

TDS credit for income already disclosed in return of income of past year

February 5, 2023 16512 Views 1 comment Print

Taxpayers can get TDS credit for income already disclosed in earlier returns with budget 2023. Learn how it can help you avoid TDS mismatch.

Higher rate of TDS/TCS for non-filers of income-tax returns

February 5, 2023 2289 Views 0 comment Print

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.

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