The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
Finance : Explore the valuation requirements across different laws in India, including the Companies Act, IBC, SEBI, RBI, and Income Tax Act...
Income Tax : Explore the distinctions between business and profession, and how sales, turnover, and gross receipts are defined under the Income...
Income Tax : Learn how to respond to a defective return notice under Section 139(9) of the Income Tax Act. Steps for correction and consequence...
Income Tax : Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash cred...
Income Tax : Explore the controversial changes in capital gains tax introduced in Budget 2024. Understand the impact on investors and real esta...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Explore the challenges faced by Karnataka State Chartered Accountants Association (R) in processing updated returns under Section ...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...
Income Tax : The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...
Income Tax : ITAT Delhi held that addition towards excess stock merely on the basis of recorded statements and without any corroborative eviden...
Income Tax : Department had challenged the finding of Tribunal on the issue as to whether the income received by the Kerala Cricket Association...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : Explore Notification No. 96/2024 by the Ministry of Finance, detailing income specifics for SAMEER Mumbai under Income Tax Act Cla...
Income Tax : Explore Income Tax Notification No. 94/2024 dated 24th July, 2024, detailing tax exemptions for Punjab Skill Development Mission S...
Income Tax : Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns wi...
Tax Impact of Payment to Micro & Small Enterprise under Budget 2023. Learn more about the proposed amendment in Section 43B of Income Tax Act. Get insights into MSMED Act.
Discover the applicability of TDS under section 194Q of the Income Tax Act for purchase of goods of value exceeding INR 50 Lakhs. Get to know how the provision, effective from 1st July 2021, affects you, here!
Discover amusing instances of taxes throughout history, from Russian tsar Peter the Great’s beard tax, to Englands coward tax of the past centuries. Keyphrase: Taxing over the centuries – Amusing instances
Is it possible for an assessee to be held responsible for the undeposited withheld tax if the person or entity that withheld the tax from the assessee’s income failed to do so?
Explore Section 80JJA of the Income Tax Act, 1961, offering deductions for businesses engaged in collecting and processing biodegradable waste. Learn key provisions, background, and implications for businesses, contributing to environmental sustainability. Maximize benefits and enhance profitability.
Payments towards professional and technical services may carry TDS provisions as covered under section 194J of the Income Tax Act. Learn what Professional Services, Fees for Technical Services, Royalty, and Non-compete Fees mean under Section 194J.
Explore the Presumptive Taxation Scheme under the Income Tax Act, 1961. Understand the provisions of Sec 44AB, recent amendments, and key considerations for tax audit.
Discover the benefits of pension plans in India and understand the tax implications. Ensure a secure financial future with fixed and assured periodic income.
According to section 40A(3) of the Income Tax Act, if payment for any expenditure exceeding Rs.10,000 is made in cash in a day, then the expenditure will be disallowed under the Income Tax Act.
Understanding GAAR: Learn about the General Anti Avoidance Rules and how they can impact tax planning and transactions for accommodating parties.
