Income Tax Articles
ITR U - How to file ITR of previous 3 years
The updated return, or ITR-U, was put forward in the Union budget of 2022 to provide taxpayers with an additional chance to submit if they missed the deadline for filing their tax returns late or to correct any mistakes they made.
Sec 54B - Exemption From Capital Gain on Transfer of Land used for Agricultural Purposes
The exemption u/s 54B is available only if capital gain arises on transfer of land used for agricultural purpose is utilized for purchasing another land which will be utilized for the purpose of agriculture.
Assessment under the Income Tax Act 1961
The process of examining the return of income by the Income Tax department is called "Assessment".
Types of Taxes: Direct Tax and Indirect Tax
As we know Indian taxation system which comprises various types of Taxes but let's understand it in broader view let's check out with the word "TAX"
Advance tax e-campaign based on significant transactions
The Income Tax Department has received information on financial transactions relating to XXXX SINGH PAN XXXXX1650X for Financial Year 2023-24 (AY 2024-25). It is seen that your advance tax payment for F.Y. 2023-24 is apparently not commensurate with such financial transactions undertaken by you during this period.
Decoding Tax Updates: Major Revisions in ITR Forms for AY 2024-25
A comprehensive analysis of the new ITR Forms has been conducted, focusing on identifying key changes and introducing new requirements compared to the previous year's ITR Forms.
ITAT Judgement - Ignorance of the Provisions of Section 269 will initiate penalty proceedings u/s 271E
ITAT: Upheld penalty, states that poor history of clearance of cheque is not valid reason to make repayment in cash and against the mode prescribed under Section 269T of the Income-tax Act, 1961.
Making SME Payments by 31st March 2024 for compliance u/s 43B(h) of Income Tax Act
In this article, we pen down the statutory requirements and analysis of this new amendment in detail.
Understanding Electoral Bonds: An Insight into India's Political Funding Mechanism
In this article, we'll delve into the concept of electoral bonds, their functioning, controversies surrounding them, and their implications for Indian democracy.
ITR Filling for Businesses For FY 2023-24
Filing an Income Tax Return(ITR) for businesses is an intricate and extensive process involving many important aspects that the entity should consider.
Popular Articles
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