Income Tax Articles
Big Relief for Taxpayers: Budget 2024 Proposes New Section 128A to Waive GST Interest and Penalties
The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of changes in the Tax laws, there have been talks about the proposed insertion of a new section, Section 128A, in the GST laws.
Expert Analysis: How Recent Income Tax Cases Are Shaping the Future of Taxation
This article comprises of case law summaries from various ITAT benches that highlight crucial aspects of income tax litigation, emphasizing the importance of evidence, documentation, and adherence to statutory provisions.
Budget 2024 & Individual Taxpayers
BUDGET-2024 & INDIVIDUAL TAXPAYERS Dear Friends, As you are aware that every year Central Government put its “Statement of Income & Expenditure&rd
Taxation of Alternative Investment Funds (AIFs) - Category I and II
Introduction· Alternative Investment Funds (AIFs of Funds) are an investment pooling vehicle that invests in various financial instruments. Such inves
Tax-Free State of Sikkim: Historical and Legal Factors
Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.
Latest Changes in Property Taxation
Our Honorable Finance Minister "Nirmala Sitharaman Ji" in the recent Final Budget of 2024 has proposed some important changes regarding taxation of property that will be discussed further in this article.
Unified Tax System? Revenue Secretary's Statement Sparks Debate on Old Regime
Income Tax Regime: Is the Old System Going to Become History? A Unified Tax System in India? Discussion Stirs Following Statement by Revenue Secretary
Income Tax Refund: Expect Delays This Year Due to New AI Scrutiny System
This year, taxpayers should anticipate delays in their income tax refunds. The government has implemented a rigorous (Strict) new system for scrutinizing income tax returns (ITRs) using a specially designed, self-automated artificial intelligence (AI) software program.
Income Tax Notice for Cash Deposits - Check These 6 Transactions
Then are the six deals that can attract an income duty notice for cash deposits
ITR Filing Due Date: July 31, 2024 - A Discussion on Advantages and Disadvantages
The deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 in India is set for July 31, 2024. While the due date provides a clear timeline for taxpayers to fulfill their tax obligations, it has sparked a debate about its implications. Let's delve into the advantages and disadvantages of having a fixed due date and the effects of extending it.
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