Income Tax Articles

All about ITR-U i.e. Last chance to file ITR

CA.Sangam Aggarwal 11 January 2024 at 13:29

Taxpayers who had missed filing their ITR and in some cases taxpayer discover some omissions or mistakes in their ITR already filed and want to alter some information but they are unable to do so after 31 Dec of the next year. Income tax department under sections 139(8A) allows those taxpayers to file an updated return in prescribed form i.e ITR-U.

Concept of Income Tax

Mitali 09 January 2024 at 17:54

Understanding tax concepts is very crucial as its helps individuals and businesses to plan their finances more effectively.

ITR-U filing for AY 2023-24 started from 1st Jan 2024

Sparsh Wadhwa 05 January 2024 at 09:19

The Due Date for Filing Belated Income Tax Returns or revising ITR for Financial Year 22-2023 was 31st December 2023.

CBDT redefines intra-group loans and amends safe harbour norms for MNC group transactions

Vivek Jalan 04 January 2024 at 08:38

The CBDT vide Notification No. 104/2023 dated December 19, 2023, issued the Income-tax (Twenty-Ninth Amendment) Rules, 2023, amending Rules 10TA and 10TD of the Income Tax Rules, 1962 ("the IT Rules").

Examining Gujarat High Court's Ruling on Interest on Delayed Tax Refunds

CA Divyajeet Singh Sabharwal 03 January 2024 at 08:51

The dusty plains of Gujarat witnessed a landmark legal victory for taxpayers on December 21, 2023. The Gujarat High Court, in a case with far-reaching implicati..

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.