Income Tax : The Central Government, in the Union Budget 2026, has proposed an important amendment concerning employee welfare funds. The objec...
Income Tax : 2023 Income Tax change (Sec 43B(h)) mandates that deductions for payments to Micro and Small Enterprises are allowed only when pai...
Income Tax : Delhi High Court upholds disallowance of delayed PF/ESI contributions under Section 143(1), but permits deductions when the due da...
Income Tax : Practical guide to tax audit under Section 44AB for trader assessees, covering groundwork, data analysis, compliance checks, and f...
Income Tax : Understand Section 43B(h) of the Income Tax Act, MSME classification, payment timelines, tax disallowance, interest on delays, and...
CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...
Income Tax : Punjab Accountants Association urges Finance Minister to amend Section 43(B)(h) for MSMEs, proposing better payment timelines and ...
Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...
Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...
Income Tax : Explore how the new 43 B (h) clause of the IT Act impacts Kerala Textiles and Garments Dealers Welfare Association and their appea...
Income Tax : The Tribunal held that adjustments made without issuing prior notice to the assessee violate the mandatory proviso to Section 143(...
Income Tax : The Court held that electricity duty collected by a licensee is not its own liability but that of consumers. As a result, Section ...
Income Tax : ITAT Mumbai rules actuarial provisions for employee benefit schemes are allowable under Section 37(1) as ascertained liabilities, ...
Income Tax : The Court dismissed the appeal after finding that all issues were already settled by earlier rulings. It held that no new question...
Income Tax : The court held that revision under section 263 requires independent satisfaction by the PCIT. Acting merely on the Assessing Offic...
Income Tax : Central Board of Direct Taxes (CBDT) has recently issued a crucial notification concerning the payment of interest on loans to Non...
Corporate Law : Explore how the recent policy update impacts MSMEs and traders regarding delayed payment benefits under the MSMED Act, 2006. Insig...
Income Tax : Disallowances made under sections 32, 40(a)(ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related to the bus...
Income Tax : Income Tax Circular No. 22/2015 W.c.f. 1.4.1988, the settled position is that if the assessee deposits any sum payable by it by wa...
Income Tax : Whether the liability has been deferred or not has to be considered not from the simplistic point of the term 'defer' but in conte...
ITAT Ahmedabad held that disallowance of provision for leave encashment unwarranted as provision was not debited to the profit & loss account of the assessee but was inherited by the assessee on account of restructuring exercise of GEB.
ITAT Delhi held that penalty under section 270A of the Income Tax Act not leviable since income assessed and income processed are same. Accordingly, in absence of under reporting of income, no penalty can be levied.
Learn how MSME Samadhaan helps small businesses file delayed payment claims and check status online. Explore application process, payment timelines, and FAQs.
Section 43B(h) mandates timely payment to MSMEs for tax deduction eligibility. Delayed payments will only be deductible after actual payment is made.
Understand Section 43B(h) of the Income Tax Act on timely payments to MSEs, its applicability, time limit, consequences, and mandatory disclosures.
Summary of cross appeals involving VAT disallowances under Section 43B for AY 2018-19, addressing accounting methods, CIT(A) decision, and case law reliance.
Review draft disclaimers for audit trail compliance and disallowances under Section 43B(h) for financial audits. Essential for statutory audit reports for FY 2023-24.
ITAT Raipur held that CIT(A) deleted the addition towards unexplained cash under section 68 of the Income Tax Act without proper verification of the facts and evidences and thus the matter restored back to the file of AO for adequate verifications.
Section 43B(h) mandates tax deductions only on actual payments to MSMEs, effective April 2024. Explore its potential impact on industries and small businesses.
ITAT Bangalore remands appeal after delay caused by FAA notice sent to outdated email, directing fresh review and updated contact details for proper adjudication.
