Introduction: The Finance Act of 2023 introduced a significant amendment to Section 43B of the Income Tax Act, 1961, with the addition of clause (h). This amendment aims to ensure timely payments to micro and small enterprises, safeguarding their liquidity from potential delays in customer payments. Section 43B Overview: Section 43B of the Act is the […]
Explore the controversial amendment to Section 87A of Income Tax Act, 1961 effective from AY 2024-25. Detailed analysis of its impact on tax liability and potential issues addressed. Learn how a drafting error may lead to unintended consequences.
Discover the latest milestone as France becomes the first European country to accept UPI payments. Learn how Indian tourists can effortlessly book Eiffel Tower tickets with secure and hassle-free UPI transactions.
Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included.
Understand the consequences of failing to provide bank details post-GST registration. Explore legal requirements, timelines, and remedial actions. Stay compliant to avoid adverse impacts.
Explore the Supreme Court judgment on penalties for goods transportation after E-way bill expiry. Detailed analysis of Vardan Associates Pvt. Ltd. vs Assistant Commissioner case.
Gain insight into the changes in Interim Budget 2024-25 with the key phrase “Changes under Income Tax in Interim Budget 2024-25”. Explore pro-people programmes, structural reforms and more from FM Sitharaman
Explore the Income Tax Calculator covering the last 28 years from FY 1997-98 to FY 2024-25. Analysis of Finance Bill 2024 and insights on choosing between old and new tax regimes.
The Finance Bill, 2024, also known as Bill No. 14 of 2024, is a legislative proposal introduced in the Lok Sabha, the lower house of the Parliament of India. The bill was introduced on the 1st of February, 2024. The Finance Bill is a crucial part of the Union Budget, as it lays out the government’s proposed financial […]
Introduction: In the recent Interim Budget speech for the fiscal year 2024-2025, Finance Minister Nirmala Sitharaman outlined significant achievements in both direct and indirect tax sectors over the past decade. The budget showcased a robust growth in direct tax collections, accompanied by a noteworthy expansion in the number of return filers. The Finance Minister acknowledged […]
