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Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
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CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
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Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest amendment in the Income Tax Act 1961 by Notification No. 50/2024 issued by the Ministry of Finance. Detailed an...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...
Article explains Overview of Section 80EEA, Eligibility conditions to be eligible for deduction under 80EEA, Calculation of Deduction under Section 80EEA with Examples and Taxability of the deduction under Section 80EEA.
Section 80IAC of the Income Tax Act, 1961 is an important provision for startups and small businesses looking to avail tax benefits. As per the section, a person is eligible for a deduction for profits for any one assessment year out of 10 assessment years.
Dive into the nuances of Section 138 of the Income Tax Act, 1961, governing the disclosure of information about assesses by income tax authorities. Explore its main sections, sub-sections, and clauses, along with the relevant rules and forms involved. Stay informed about the procedures, authorities’ roles, and application processes under this section.
Section 35AC of the Income Tax Act, 1961, provides a deduction in respect of income derived, or any sum of money paid or deposited, out of the gross total income of an assessee who has entered into any eligible project or scheme approved by the Central Government under this Section.
Unlock tax savings with Section 80C! Dive into the details of eligible investments under the Income Tax Act 1961. Explore deductions up to Rs. 1,50,000 on life insurance premiums, annuity contracts, provident fund contributions, and more. Make informed decisions for tax-efficient financial planning.
Unlock the potential of Section 80CCC under the Income Tax Act for retirement benefits. Explore deductions up to Rs 1.5 lakhs, annuity plans, tax implications, and strategic financial planning. Plan your future with tax-savvy retirement solutions.
Depreciation may be claimed under the Income Tax Act for purchases made by an assessee during the financial year in furniture, equipment, and machinery. For a corporate entity, depreciation on computers and computer resources may be a substantial source of corporate tax savings.
Issue before Supreme Court was to decide who was the employer of the seconded employees during the term of their secondment. If the group companies are treated as the employer, then the services provided by them would be liable to tax, On the contrary, if the assessee is treated as the employer, then the amount paid to group companies would be treated as reimbursement on which service tax cannot be levied.
Learn about the updated return process under section 139(8A) of the Income Tax Act. File or update your ITR within two years for improved tax compliance.
Understand the taxation of expatriates in India, covering the residential status, taxability, and exemptions. Explore how the Income Tax Act and Double Tax Avoidance Agreement influence the taxation of expats’ income, ensuring compliance with relevant regulations.
