Income Tax Articles

Applicability: Co-operative society engaged in the business of manufacture of sugar

CA Bhawna Dua 11 December 2023 at 10:38

Sugar factories operating in the co-operative sectors in certain States of India pay to sugarcane growers a final amount, often referred to as Final Cane Price (FCP) which is over and above the Statutory Minimum Price (SMP) fixed by the Central Government under the Sugarcane Control Order, 1966.

Exploring the Resale Method in Transactions with Limited Value Addition by Distributors

Vivek Jalan 08 December 2023 at 15:10

Resale method appropriate in Transfer Pricing where there is no Value Addition to traded goods by the distributor

Process for Filing Application u/s 119(2)(b) of IT Act, 1961

CA. Bhavik P. Chudasama 08 December 2023 at 14:07

Filing an application under Section 119(2)(b) of the Income Tax Act in India typically involves specific procedures.

Automating Income Tax Filing for 50 Employees with Form 16 Part B in FY 2023-24

Pranab Banerjee 07 December 2023 at 09:15

The tax season is upon us, and for businesses with 50 employees, mastering Form 16 Part B for the financial year 2023-24 is crucial. In this comprehensive guide..

Strategic Considerations in Capital Asset Transfers: Pre and Post AY 2017-18 Perspectives

Vivek Jalan 07 December 2023 at 09:05

Determination of date of transfer of capital asset before and after AY 2017-18... where two AYs are involved

Transactions which require quoting of PAN

CA Bhawna Dua 06 December 2023 at 09:17

Not quoting of PAN attracts many penalties and also keeping of PAN more than one also attract penalty of Rs. 10,000 so before to enter into any transaction it must be understood that quoting of PAN is required in the following 18 Transactions and also it should be kept in mind that such a TDS can be claimed while filing the Income Tax Return of that relevant previous year.