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MSME Payments and Impact of Section 43B(h) of Income Tax Act

January 31, 2024 4590 Views 1 comment Print

Explore Section 43B(h) of the Income Tax Act 1961 impacting payments to Micro and Small Enterprises. Learn about deductions, tax implications, and compliance for timely payments.

Section 43B(h): PAY timely to Micro / Small Enterprise(s) or Pay Taxes

January 31, 2024 6720 Views 0 comment Print

Explore the impact of Finance Act 2023s Sec 43B(h) amendment. Analysis covers provisions, definitions, due dates, and practical scenarios for timely payments to Micro/Small Enterprises.

Issues While Switching Employer For Salaried Individual

January 31, 2024 2826 Views 0 comment Print

Navigating tax compliances during a job change in India. Learn about Form 16, deductions, and avoiding legal pitfalls. Expert insights for a smooth transition.

Assessment Order liable to be set aside when Notice is not served physically

January 31, 2024 4035 Views 0 comment Print

Explore the implications of the Madras High Courts decision in Jak Communications vs. Deputy Commercial Tax Officer, setting aside an Assessment Order for lack of physical notice service.

Payment of Tax & Interest under GST can be made in installments: Calcutta HC

January 31, 2024 1878 Views 0 comment Print

Explore the Calcutta High Courts ruling in Neel Kamal vs. Assistant Commissioner, allowing tax and interest payment in 10 instalments due to financial hardship and delayed revenue detection.

Interim Budget And Vote on Account: What And Why

January 31, 2024 2208 Views 0 comment Print

Explore the intricacies of India Interim Budget and Vote-on-Account. Understand their evolution, significance, and the crucial role they play in managing government finances, especially during election years. Delve into the differences and learn how these financial tools ensure smooth governance transitions

Unveiling the Debate on GST Rate Rationalization in India

January 31, 2024 1062 Views 0 comment Print

Dive into the five-year debate on GST rate rationalization in India. Explore complexities, inverted duty challenges, and potential solutions for a balanced tax structure promoting economic growth.

India’s Right to Repair Initiative: Empowering Consumers for a Greener Tomorrow

January 31, 2024 951 Views 0 comment Print

Explore India Right to Repair initiative launched by the Government, promoting sustainability and reducing electronic waste. Learn how sharing product details empowers consumers to repair gadgets, vehicles, and equipment hassle-free, fostering a greener economy

Pension Schemes in India: Evolution, Challenges & Future Prospects

January 31, 2024 2475 Views 0 comment Print

Explore the evolution of pension schemes in India, from the traditional old pension scheme to the modern New Pension Scheme (NPS). Delve into the challenges, advantages, and the way forward in addressing the needs of retired employees while ensuring fiscal prudence

Disallowance of MSME Purchase / Expenses under Section 43B(h)

January 31, 2024 81795 Views 4 comments Print

Explore the impact of Income Tax Acts Section 43B(h) on disallowance of expenses from MSMEs. Learn about changes, provisions, and steps for compliance.

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