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Understanding Section 80GG of Income Tax Act: A Boon for Renters without HRA

January 30, 2024 4824 Views 2 comments Print

Comprehensive guide to Section 80GG of the Income Tax Act. Learn about eligibility criteria, quantum of deduction, and an illustrative example. Maximize tax relief for renters without House Rent Allowance (HRA)

How to calculate Net Profit For CSR Under Section 135, 198 & CSR Rules?

January 30, 2024 131958 Views 0 comment Print

Explore the intricacies of calculating net profit for CSR under Section 135 of the Companies Act. Breakdown of 2022-2023 calculations, credits, disallowed profits, deductions, and rules. A comprehensive guide for accurate CSR net profit determination

Provision of Section 43B(h) not applicable to Wholesale and Retail Trade

January 30, 2024 64017 Views 10 comments Print

Explore the amendment in Section 43B(h) of the Income Tax Act, 1961, excluding Wholesale and Retail Traders. Learn how it affects delayed payments and MSME benefits.

Three-Digit Difference in Vehicle Number on E-Way Bill: HC Quashes Penalty

January 30, 2024 2619 Views 0 comment Print

The Allahabad High Court ruled against imposing penalties for minor e-way bill errors, emphasizing the lack of intent to evade tax. Get insights on the judgment

HC Orders DGGI to Transfer Investigation to State Tax Authority

January 30, 2024 2013 Views 0 comment Print

Explore the Jharkhand High Court’s landmark decision directing DGGI to transfer GST investigation to State tax authority. Detailed analysis of Vivek Narsaria case and its implications

Demat Account Opening For Foreign Companies In India

January 30, 2024 17052 Views 1 comment Print

Explore the step-by-step process for foreign companies to open demat accounts in India, including obtaining ISIN. Navigate the regulatory landscape and seamlessly transition to electronic securities

No Income Tax Exemption to News Agencies u/s 10(22B) w.e.f. 1st April 2024

January 30, 2024 1530 Views 0 comment Print

Explore the implications of Finance Act 2023 withdrawing tax exemptions for news agencies under Section 10(22B) from April 1, 2024. Analyze the impact on Press Trust of India and the broader industry

Demystifying Section 43B(h) of Income Tax Act: Implications for Businesses & FAQs

January 30, 2024 4566 Views 0 comment Print

Explore the implications of Income Tax Act Section 43B(h) for businesses, focusing on timely payments to MSMEs. FAQs provide clarity on covered expenses and compliance

Overview of Section 132: Search and Seizure under Income Tax Act

January 30, 2024 31113 Views 0 comment Print

Explore Section 132 of the Income Tax Act, detailing search and seizure powers, authorizations, examinations, and rules for a transparent process

Faster Mechanism of Recovery of Dues of SMEs

January 30, 2024 1818 Views 1 comment Print

Explore the fast-track recovery mechanisms for Small and Medium Enterprises (SMEs) through the MSME Samadhan Portal and recent amendments in Section 43B(h) of the Income Tax Law. Learn about registration, timelines, benefits, and legal implications for SMEs and corporate buyers.

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