Income Tax Articles
How to make TDS challan payment through online - New Process
Process of TDS payment has been changed from NSDL portal to Income Tax Portal. This article highlights the detailed process of making payment of TDS.
Sec 43B(h) of Income Tax Act
One of the major problems being faced by the MSMEs entities is not-getting their dues from their buyers on a timely basis.
Maximizing Tax Benefits for MSMEs: Decoding Section 43B(h) Amendment
In a bid to support for Micro, Small, and Medium Enterprises (MSMEs), the recent amendment to Section 43B of the Income Tax Act has brought forth significant changes.
Error in drafting Section 87A of Income Tax Act, 1961
Most of us would be knowing about and have been claiming a rebate under section 87A of Income Tax Act, 1961. But very few of us would be fully aware about the controversial implications of new drafted proviso (b) to this section which is effective from AY 2024-25. Let's see the Section 87A of Income Tax Act, 1961 first.
Decoding Slump Sale: Merger Implications under Companies Act & Income Tax Act
Slump Sale means the transfer of one or more undertakings against a lump sum consideration without values being allocated to the individual assets and liabilities.
All about TDS Returns and its Filing Procedure
TDS is required to be deducted by a person for certain payments made by them. Every Assessee who has deducted TDS is required to file TDS Returns. TDS Returns are quarterly statements, which contain the information pertaining to TDS deducted and deposited. It is submitted by person who deducted TDS i.e. TDS deductor.
How to file an appeal before ITAT
Filing an income tax appeal before the Income Tax Appellate Tribunal (ITAT) is a crucial step for taxpayers seeking resolution on disputed tax matters. The relevant section that governs the filing of an appeal before the ITAT is Section 253 of the Income Tax Act. Here's an overview of Section 253:
Powers of the CIT(A) Limited to AO's Scope under Section 251 of Income Tax Act
Powers of the CIT(A), of enhancement under section 251 of Income Tax Act is restricted to the matter dealt with by the AO
Budget 2024: Income Tax Slabs Rates for AY 2025-26 and Other Updates
Finance Minister Nirmala Sitharaman today on February 1 presented the Union Budget 2024 inside the Lok Sabha. No changes have been introduced in the tax slabs in old and new tax regimes.
Analysis on New Clause (H) of Section 43B of the Income tax Act, 1961
The Finance Bill 2023 has introduced a significant amendment to the Income Tax Act, 1961, relating to Micro and Small Enterprises (MSMEs) which is applicable from 1st of April, 2023.
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