View Full Profile
Amendment in Section 43B of Income Tax Act, 1961 (Certain expenses to be allowed on payment basis) by insertion of new clause (h) with effect from 01.04.2024
The case involves an individual assessee whose residential status is under dispute for the assessment year 2013-14. A search and seizure action was conducted in the case of Matix (Nishant Kanodia) Group, and the assessee's case was centralized to the office of the Assistant Commissioner of Income Tax, Central Circle-5(1), Mumbai.
The TDS and TCS rates have been reduced by 25% of the existing rates. The revised TDS rates will be effective from the period 14/05/2020 to 31/03/2021.
Sec 115BA provides for a reduced tax rate of 25% in case of all domestic manufacturing companies incorporated on or after Mar1, 2016, Sec 115BAA has been inserted to provide for a reduced tax rate of 22% for all domestic companies.
Tax Exemption for Startups Entity under section 80-IAC & Angel Tax Exemption(After Union Budget 2020)Startup India is a flagship initiative of the Governmen
Tax collected at Source(TCS) on tour operator
CAclubindia
