Income Tax Articles

Filing Income Tax Return for 2-3 years at once: ITR-U explained

CA Aditya Tulsyan 07 August 2024 at 08:42

Filing income tax returns for 2-3 years back is not very common, but some people need to do it for various reasons, such as visa applications, university admissions, job applications, etc.

Relief for Home Buyers: Key Points on the Finance Bill and Budget Proposals

Sachin 07 August 2024 at 08:37

This article lists the developments that are crucial for home buyers as they navigate the evolving tax landscape and plan for potential financial impacts.

Big Relief for Taxpayers: Budget 2024 Proposes New Section 128A to Waive GST Interest and Penalties

CA Umesh Sharma 05 August 2024 at 14:05

The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of changes in the Tax laws, there have been talks about the proposed insertion of a new section, Section 128A, in the GST laws.

Expert Analysis: How Recent Income Tax Cases Are Shaping the Future of Taxation

CA Dipak Dama 05 August 2024 at 08:38

This article comprises of case law summaries from various ITAT benches that highlight crucial aspects of income tax litigation, emphasizing the importance of evidence, documentation, and adherence to statutory provisions.

Budget 2024 & Individual Taxpayers

FCS Deepak Pratap Singh 03 August 2024 at 14:12

BUDGET-2024 & INDIVIDUAL TAXPAYERS Dear Friends, As you are aware that every year Central Government put its “Statement of Income & Expenditure&rd

Taxation of Alternative Investment Funds (AIFs) - Category I and II

Affluence Advisory 03 August 2024 at 08:48

Introduction· Alternative Investment Funds (AIFs of Funds) are an investment pooling vehicle that invests in various financial instruments. Such inves

Tax-Free State of Sikkim: Historical and Legal Factors

Mitali 01 August 2024 at 17:16

Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.

Latest Changes in Property Taxation

CA.Sangam Aggarwal 01 August 2024 at 08:46

Our Honorable Finance Minister "Nirmala Sitharaman Ji" in the recent Final Budget of 2024 has proposed some important changes regarding taxation of property that will be discussed further in this article.

Unified Tax System? Revenue Secretary's Statement Sparks Debate on Old Regime

Sachin 31 July 2024 at 14:39

Income Tax Regime: Is the Old System Going to Become History? A Unified Tax System in India? Discussion Stirs Following Statement by Revenue Secretary

Income Tax Refund: Expect Delays This Year Due to New AI Scrutiny System

Sachin 30 July 2024 at 08:31

This year, taxpayers should anticipate delays in their income tax refunds. The government has implemented a rigorous (Strict) new system for scrutinizing income tax returns (ITRs) using a specially designed, self-automated artificial intelligence (AI) software program.