Income Tax Articles

Income Tax Updates: 6 Budget 2024 Rules Effective 1st October

Chaitra Seetharam 30 September 2024 at 11:27

Finance Minister Nirmala Sitharaman has announced that the Budget 2024 has introduced several significant amendments to the Income Tax Act of 1961, which will come into effect on October 1, 2024.

Chennai's Property Tax Hike: GCC Approves 6% Increase

Niyati 28 September 2024 at 17:38

The Greater Chennai Corporation (GCC) council on 27th September 2024, approved to raise property tax at a rate of 6%.

Important Changes From 1st October 2024 In PPF Rules

Mitali 28 September 2024 at 14:51

PPF is a government scheme in India designed to encourage long-term savings investments.

How to Claim Capital Gain Tax Exemption on Redevelopment Projects?

Chaitra Seetharam 27 September 2024 at 10:45

Section 45 of the Income Tax Act, 1961, provides that any profits or gains arising from the transfer of a capital asset effected in the previous year will be chargeable to income tax under the head 'Capital Gains'.

Income Tax Department's Eye on High-Value Credit Card Transactions

Sahil Jaiswal 27 September 2024 at 10:40

The Income Tax Department of India has been increasingly monitoring high-value credit card transactions as part of its efforts to curb tax evasion and ensure better tax compliance.

Deadline Alert: Income Tax Audit Submission by September 30

Chaitra Seetharam 26 September 2024 at 10:46

Tax audit limit specifies the threshold for businesses and professionals, beyond the limit must get their accounts audited under Section 44AB of the Income Tax Act.

Deemed Dividend: Understanding Section 2(22) of the Income-tax Act, 1961 and Its Implications

Affluence Advisory 26 September 2024 at 08:33

Section 2(22) of the Income-tax Act, 1961 (the Act), deals with Dividends. Sub-clause (e) of section 2 sub-section (22) of the Act includes payments made by a private company by way of advance or loan to a shareholder

FCRA Account: Benefits, Cash Limits and Restrictions

Ayush 24 September 2024 at 17:32

Charitable Trusts, Societies, Section 8 Company that receive foreign contribution or donation from foreign sources are required to obtain registration under section 6 of Foreign Contribution Regulation Act, 2010.

Forgot Your Form 16A Password? Here's How to Recover It

Ishita Ramani 24 September 2024 at 08:30

In this article, we'll be able to guide you through the process of getting better at the Form 16A password, with sensible recommendations to avoid future demanding situations.