Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...
Income Tax : Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosure...
Income Tax : Learn about tax audit under Section 44AB, including objectives, requirements, forms, and penalties for non-compliance....
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
Income Tax : Understand who must maintain books of accounts, specific requirements for professionals, and penalties for non-compliance under In...
CA, CS, CMA : ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audi...
Income Tax : Kerala High Court held that penalty under section 271B of the Income Tax Act, for non-compliance with provisions of section 44AB, ...
Income Tax : Delhi High Court held that TDS under section 194C of the Income Tax Act not deductible on capital grant subsidy extended by NHAI t...
Income Tax : Andhra Pradesh High Court held that insurance company cannot object to the income of the deceased as deceased did business and ear...
Corporate Law : Read the detailed analysis of Orissa High Court's decision to revise compensation under Section 44-AE of Income Tax Act in a motor...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961...
Kerala High Court held that penalty under section 271B of the Income Tax Act, for non-compliance with provisions of section 44AB, not imposable since reasonable cause for belated filing of audit report established.
Delhi High Court held that TDS under section 194C of the Income Tax Act not deductible on capital grant subsidy extended by NHAI to the Concessionaire since it cannot be construed as payment made for a work undertaken by the contractor.
Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. Income-tax Act provides for five heads of incomes for computation of taxable income, viz., Salary, Income from House Property, Income from Business or Profession, Capital Gain and Residual Income. Provisions contained under each head of […]
Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosures for accurate compliance.
Andhra Pradesh High Court held that insurance company cannot object to the income of the deceased as deceased did business and earned income as apparent from TDS deducted. Accordingly, compensation enhanced.
Learn about tax audit under Section 44AB, including objectives, requirements, forms, and penalties for non-compliance.
Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance requirements for small taxpayers.
Understand who must maintain books of accounts, specific requirements for professionals, and penalties for non-compliance under Indian tax laws.
Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.
Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sections 44AD, 44ADA, and 44AE of the Income Tax Act. These sections, aimed at simplifying tax compliance for certain taxpayers, face scrutiny for their applicability, concessions, and implications on business operations. WHETHER THE PROBLEMS IN THE PRESUMPTIVE TAXATION WILL […]
