Income Tax Articles
Decoding Safe Harbour for Intra-Group Loans: New Income Tax Rules Explained
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.
Annual Information Statement (AIS)
The Income Tax Department has rolled out the new Annual Information Statement (AIS) on its compliance portal (incometax.gov.in). The purpose of the new AIS is to make it easier for taxpayers to file their returns.
Section 50B & Rule 11UAE
Slump sale means the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales.
Automatic Income Tax Arrears Relief Calculator u/s 89(1) and Form 10E for FY 2023-24
18 December 2023
18855 Views
Download Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the FY 2023-24
Jewellery Found During Search Not Abnormal for High Net Worth Individuals
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.
Form 12BB for employees to submit declaration and Investment proof to save their taxes
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.
Download and Organize Form 16 Part B and Part A&B in Excel for FY 2023-24
15 December 2023
22403 Views
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.
TCS On Remittance Under Liberalised Remittance Scheme & Overseas Tour Programme Package
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.
CSR expenditure is allowable u/s 80G of IT Act - On the maxim of 'Expressio Unius Esl Exclusio Alterius'
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.
A Guide to Exemptions and Deductions Under Old Tax Regime for FY 2023-24 with Automated Form 16 Generation for 50 Employees
13 December 2023
14587 Views
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
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