Income Tax Articles

Navigating E-commerce TDS: A Detailed Guide

CA Kunal Jain 02 January 2024 at 14:00

The latest circular on TDS (Tax Deducted at Source) for online transactions brings some key clarifications. Don't get lost in the technical jargon - This detailed guide simplifies it all!

TDS deduction under Business and Profession

anmol bohra 30 December 2023 at 15:12

The Income-tax Law implements a system of tax deduction at the moment of income generation to facilitate speedy and effective tax collection. In this system, Tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee.

All You Need To About Form 15CA and Form 15CB

Ishita Ramani 30 December 2023 at 15:08

In the course of business, it happens that many payments are made outside India. When payments are made outside India, there are certain compliances that need to be followed and tax deduction is required for any amount that is taxable under the Income Tax Act.

Last date to file Income tax return is 31st December 2023

Sparsh Wadhwa 30 December 2023 at 08:55

This article explores the importance of filing a belated return and presents a step-via-step guide on how to document it on line.

ITR Filing Due Date FY 2023-24 (AY 2024-25)

Shivani 28 December 2023 at 15:30

For FY 2022-23 (AY 2023-24), the original ITR filing deadline was July 31, 2023, with no late fee. If missed, you can file a belated return by December 31, 2023, but with a late fee and interest.

Decoding the Legitimacy of Business Expenses

CA Rakesh Ishi 28 December 2023 at 11:55

In a recent case, Swing Infraspace P. Ltd. found itself in the crosshairs of the Income Tax authorities concerning the allowability of certain expenses under Section 37(1) of the Income Tax Act, 1961.

Understanding Section 16 and Automating Form 16 Part B Preparation for 100 Employees in FY 2023-24

Pranab Banerjee 28 December 2023 at 08:52

Section 16- Standard Deduction, Entertainment Allowance, and Professional Tax: Unraveling the Tax Web with Automatic 100 Employees Form 16 Part B Preparation for the FY 2023-24

Understanding TDS Under Section 195

CA Rakesh Ishi 27 December 2023 at 10:49

In the realm of cross-border transactions involving payments to non-residents, Tax Deducted at Source (TDS) plays a crucial role, especially under Section 195 of the Income Tax Act. A landmark case shedding light on the application of Section 195 is the Engineering Analysis Centre of Excellence (P) Ltd. vs. Commissioner of Income Tax & Anr.