https://taxguru.in/income-tax/section-80p2d-deduction-allowable-co-op-society-interest-income-co-op-banks.html Clipped from: https://taxguru.in/income-tax/section-80p2d-deduction-allowable-co-op-society-interest-income-co-op-banks.html Reserve Bank Staff and Officers Vs ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai has provided a significant ruling on
Category: Income Tax
Compliance in sale of property by Non Resident Indian ( NRIs)
https://taxguru.in/income-tax/compliance-sale-property-resident-indian-nris.html Clipped from: https://taxguru.in/income-tax/compliance-sale-property-resident-indian-nris.html As the real estate market in India continues to attract investments from Non-Resident Indians (NRIs), it’s imperative for both buyers and sellers
Implications of Not Claiming Exemptions under Section 115BAC
https://taxguru.in/income-tax/implications-claiming-exemptions-section-115bac.html Clipped from: https://taxguru.in/income-tax/implications-claiming-exemptions-section-115bac.html Introduction: Section 115BAC offers taxpayers an alternative tax regime with certain conditions. However, opting for this regime comes with implications, especially in terms
Faceless Tax Assessment: Impact, Benefits & Redressal Measures: Govt. Response
https://taxguru.in/income-tax/faceless-tax-assessment-impact-benefits-redressal-measures.html Clipped from: https://taxguru.in/income-tax/faceless-tax-assessment-impact-benefits-redressal-measures.html Introduction: The introduction of faceless tax assessment under section 144B of the Income-tax Act, 1961, marks a significant milestone in India’s tax administration.
Section 43B(h): Impact on Expenses under Income Tax Act & MSME Regulations
https://taxguru.in/income-tax/section-43bh-impact-expenses-income-tax-act-msme-regulations.html Clipped from: https://taxguru.in/income-tax/section-43bh-impact-expenses-income-tax-act-msme-regulations.html Introduction: Delve into the transformative nuances brought about by Section 43B(h) of the Income Tax Act, effective from April 1, 2023. This section,
Implications of amendment in Section 43B to taxpayers and SMEs
https://taxguru.in/income-tax/implications-amendment-section-43b-taxpayers-smes.html Clipped from: https://taxguru.in/income-tax/implications-amendment-section-43b-taxpayers-smes.html Introduction: Explore the implications of the recent amendment in Section 43B of the Income Tax Act, focusing on deductions tied to payments made
Complete Analysis of Section 43B(h) of Income Tax Act w.r.t. MSME Payment
https://taxguru.in/income-tax/complete-analysis-section-43b-h-income-tax-act-w-r-t-msme-payment.html Clipped from: https://taxguru.in/income-tax/complete-analysis-section-43b-h-income-tax-act-w-r-t-msme-payment.html Introduction: Explore the nuances of Section 43B(h) of the Income Tax Act, which delineates the tax implications of payments to Micro and Small
All about Section 43B(h) of income tax act 1961 with illustrations
https://taxguru.in/income-tax/section-43b-h-income-tax-act-1961-illustrations.html Clipped from: https://taxguru.in/income-tax/section-43b-h-income-tax-act-1961-illustrations.html Section 43B(h) of the Income Tax Act, 1961 is a new provision that was introduced by the Finance Act 2023 to ensure timely payments
👌Denial of deduction claimed u/s 80P(2)(d) of IT Act regard to interest received from Co-Operative Banks /Scheduled Banks : ITAT Directs Readjudication
Clipped from: https://www.taxscan.in/denial-of-deduction-claimed-u-s-80p2d-of-it-act-regard-to-interest-received-from-co-operative-banks-scheduled-banks-itat-directs-re-adjudication-read-order/373205/ By Aparna. M – On February 9, 2024 4:02 pm – 2 mins read The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) directed re adjudication upon
Income Tax vis a vis AIS — Mismatches
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I-T dept will erase petty tax demands on its own, says CBDT chairman
https://www.business-standard.com/budget/news/i-t-dept-will-erase-petty-tax-demands-on-its-own-says-cbdt-chairman-124020201129_1.html Clipped from: https://www.business-standard.com/budget/news/i-t-dept-will-erase-petty-tax-demands-on-its-own-says-cbdt-chairman-124020201129_1.html He said only the base figure of the demand (Rs 25,000 and Rs 10,000) will be the “deciding factor” for such cases
Trim your tax bill by doing this: Gift money, pay rent to your parents
https://www.business-standard.com/finance/personal-finance/trim-your-tax-bill-gift-money-pay-rent-to-parents-for-tax-benefits-124012900782_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/trim-your-tax-bill-gift-money-pay-rent-to-parents-for-tax-benefits-124012900782_1.html An effective tax-saving strategy involves transferring funds to your parents, especially if they are in a non-taxable or lower tax bracket Representational
How to make tax return scrutiny less stressful
https://www.business-standard.com/opinion/columns/how-to-make-tax-return-scrutiny-less-stressful-124012800623_1.html Clipped from: https://www.business-standard.com/opinion/columns/how-to-make-tax-return-scrutiny-less-stressful-124012800623_1.html Tax officials must be required to go through responses submitted by the taxpayer quickly and ask follow-up questions within a fixed time
Donate for a good cause, get tax benefit: Here is how to do that
https://www.business-standard.com/finance/personal-finance/donate-for-a-good-cause-get-tax-benefit-here-is-how-to-do-that-124012500644_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/donate-for-a-good-cause-get-tax-benefit-here-is-how-to-do-that-124012500644_1.html Percentage of donated amount eligible for deduction may vary Donations to some specified organisations are eligible for a 100 per cent or
Tax Query: Verifying self-tax remittances – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-verifying-self-tax-remittances/article67775198.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-verifying-self-tax-remittances/article67775198.ece From FY2022-23, payment made towards Advance tax and Self- Assessment Tax is reflected in Annual Information Statement instead of Form 26AS I
Ease of business vs tax pressure
https://www.business-standard.com/opinion/columns/ease-of-business-vs-tax-pressure-124011400585_1.html Clipped from: https://www.business-standard.com/opinion/columns/ease-of-business-vs-tax-pressure-124011400585_1.html Obviously, tax officials believe that all these tightly regulated companies, including government ones, have short-changed the government Last Tuesday, the shares of
दोन घरांतील गुंतवणूक ग्राह्य | Answers to questions related to tax exemption, study abroad
https://www.loksatta.com/business/personal-finance/answers-to-questions-related-to-tax-exemption-study-abroad-print-eco-news-ssb-93-4169252/ Clipped from: https://www.loksatta.com/business/personal-finance/answers-to-questions-related-to-tax-exemption-study-abroad-print-eco-news-ssb-93-4169252/ अजून १० दिवसांनी म्हणजेच १ फेब्रुवारी, २०२४ रोजी लोकसभेत अर्थसंकल्प सादर केला जाईल. निवडणुकीच्या पार्श्वभूमीवर हा अंतरिम अर्थसंकल्प असेल आणि त्यानंतर निवडून
Demystifying Section 43B: MSME Payment Deductions & Union Budget 2023
https://taxguru.in/income-tax/demystifying-section-43b-msme-payment-deductions-union-budget-2023.html Clipped from: https://taxguru.in/income-tax/demystifying-section-43b-msme-payment-deductions-union-budget-2023.html Latest Important Amendment in Section 43B of Income Tax Act related to MSME (Small and Micro) vide insertion of Clause (h) to
aniltikotekar4sme.com 