Income Tax Articles
Top 10 Income Tax Amendments applicable from April 2023
10 Income Tax Amendments that are applicable from April 2023
Self Assessment Tax & Additional Income Tax: Updated Return u/s 139(8A) Read With Section 140B
Self Assessment Tax & Additional Income Tax
Additional Tax under section 140B
A new section 140B has been proposed in the Union Budget,2022. If an assessee opts for filing the return under newly proposed section 139(8A), an additional tax is required to be paid under Section 140B.
Section 73 of CGST Act 2017
Section 73 talks about the determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized for any reason other than fraud or any willful-misstatement or suppression of facts.
NPS vs OPS: Why NPS is the clear winner for retirement planning
The Finance Ministry has set up a group to review the pension system for government workers. The committee will be led by Finance Secretary T V Somanathan and will suggest ways to improve pension benefits for government employees.
CBDT issued circular on TDS for salaries in FY 2023-24: What you need to know
The Central Board of Direct Taxes (CBDT) has issued a circular on April 5, 2023, which explains how employers will deduct tax on salaries for the current financial year 2023-24
Section 67: Power Of Inspection, Search And Seizure
Section 67 talks about the power of proper officers not below the rank of Joint Commissioner to conduct inspection, search and seizure.
TDS on sale of property under migrated E-filling portal
As per section 194 IA of Income tax Act, 1961, TDS is applicable on sale of immovable property, if the consideration of property exceeds or equal to Rs. 50,00,000/- (Rs. Fifty lakhs). The rate of tax under the above section is 1% which is to be deducted and need to be deposited by buyer.
Section 129: Detention, Seizure and Release of goods and conveyance in transit
Section 129 talks about detention, seizure and release of goods and conveyance in transit where the intent of taxpayer is to evade tax payment.
Section 130: Confiscation of Goods or Conveyance and levy of penalty
Section 130 of the CGST ACT 2017 deals with the Confiscation of Goods or Conveyance and levy of Penalty
Popular Articles
- Senior Citizen Saving Scheme From 1 July 2026 with 5 New Rules
- Income Tax Slab for Senior Citizens Above 60 Years for AY 2026-27: With Deductions, Rebates and Examples
- TDS on Cash Withdrawals 2026: Excess vs. Entire Amount
- Input Tax Credit Under GST: The One Provision Where a Buyer Pays for a Supplier's Default
- 143(2) Scrutiny Notice Received: What is it and How to Respond Online?
- New Interest Rates on Post Office Schemes from 1 July 2026
- Best Fixed Deposit Interest Rates 2026 for General and Senior Citizens: Check Which Bank Gives Higher Returns?
- F&O, Intraday and Share Trading Losses: How to Claim Maximum Tax Benefit Through ITR-3, Set-off and Carry Forward
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
