Welcome to our guide on income tax allowances and deductions in India. As taxpayers, it is essential to understand the various allowances and deductions available to us, as they can significantly reduce our tax liability. In this article, we will cover all the necessary details about income tax allowances and deductions, so you can make informed decisions while filing your tax returns.
Discover when the Income Tax Return (ITR) filing for Assessment Year 2023-24 will commence. Mark your calendar and stay updated on the official website for the exact start date. Filing ITR is crucial for avoiding penalties, claiming refunds, creating financial records, and more.
Due Diligence is the process by which confidential, legal, or financial and other material information are exchanged, reviewed and appraised by the interest parties who are going to enter into a Business transaction. Due diligence often refers to the in-depth research and study being done before signing an agreement or a business with a party.
Explore legal protections against workplace harassment and discrimination in India. Understand the laws, such as the Sexual Harassment of Women at Workplace Act and others. Learn about the challenges in implementing these safeguards, including lack of knowledge and fear of reprisal. Discover the importance of proper application for a respectful work environment.
The Supreme Court declared that members of the Employees’ Provident Fund Organization (EPFO) who are also members of the Employees’ Pension Scheme might contribute more to their pensions if certain conditions are met.
India’s digital aspirations are rapidly transforming the country’s economic landscape and labor market. With a population of over 1.3 billion people and a growing middle class, India has emerged as a global leader in the digital domain, with ambitious goals to leverage technology for economic growth and social development.
There are certain cases where the transaction in its entirety starting from the sale of the original asset till the purchase or construction of the new assets is called into question as a colourable transaction done with the sole purpose of evasion of capital gain tax.
Judicial Activism refers to a judicial philosophy or approach where judges interpret laws and the constitution in a way that goes beyond traditional legal analysis and actively seeks to bring about social changes. In the context of labour law, judicial activism can manifest in judges interpreting labour laws in a way that supports worker’s rights and protections, even if such interpretations go beyond the letter of the law.
Unlock the secrets of auditing Property, Plant & Equipment (PPE) in India with our comprehensive guide. Explore key considerations, evaluation of completeness and accuracy, assessing valuation, testing impairment, disclosure requirements, and the impact of Indian Accounting Standards (Ind AS) 16. Gain insights into reviewing internal controls for a thorough and accurate audit. Stay informed to ensure compliance, accuracy, and adequacy of disclosures related to PPE in your audit process.
Explore the socio-psychological effects of migration and the challenges faced by the migrant population in India during the COVID-19 lockdown. Understand the impact on livelihood, healthcare, and mental health, and discover potential solutions to address these issues. Stay informed about the unprecedented crisis and its consequences on the vulnerable sections of the population.
