A recent press release from the Income Tax Department reveals a major crackdown on a business group operating in Odisha, Jharkhand, and West Bengal.
The Central Board of Direct Taxes (CBDT) has recently released the Income-tax (Twenty-Ninth Amendment) Rules, 2023, making significant changes to how intra-group loans are treated for tax purposes.
18 December 2023
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Download Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the FY 2023-24
Whether jewellery found during a search at an HNI's premises could be considered unexplained income under section 69A of the Income-tax Act, 1961.
Using Form 12BB, an employee has to declare the investments that they have made during the year. Documentary evidence of these investments and expenses has to be provided at the end of the financial year as well.
15 December 2023
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In this article, we will delve into the nitty-gritty of preparing Form 16 Part B and Part A&B in Excel for the Financial Year 2023-24.
In the realm of international financial transactions, the Liberalized Remittance Scheme (LRS) has become a popular avenue for Indian residents. This article delves into the intricacies of remittance under LRS and the consequential Tax Collection at Source (TCS) under Section 206C(1G) of the Income Tax Act.
Allowability of CSR expenditure has been sealed after Explanation 2 to Section 37(1) was inserted in the Income tax Act 1961 w.e.f. 1.4.2015.
13 December 2023
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Exemptions and Deductions Available Under Old Tax Regime FY 2023-24 With Automatic Income Tax Master of Form 16 which can prepare at a time 50 Employee's Form 16 for the FY 2023-24
Penalty is allowed if it is compensatory and teaches the assessee how to run its business in future. It is disallowed if it is a punishment for intentional violation of a law
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