Income Tax Articles
Analysis of Sec 50C & 43CA of the Income Tax Act
Geetanjali Pandey 12 August 2023 at 09:36Here, the author has tried to explain the applicability of two provisions of the Income Tax Act which is related to Immovable property being Land and building. ..
Can You Change Tax Regime When Filing Belated ITR from the Previous Year?
Rashmi 12 August 2023 at 08:55Missing the initial deadline to file your Income Tax Return (ITR) for the fiscal year 2022-23 (Assessment Year 2023-24), which was July 31, 2023, need not cause undue concern. You can still submit your ITR after the original deadline by paying a penalty.
A Guide to Mastering Tax Deductions and Exemptions While Staying Compliant
Rashmi 11 August 2023 at 09:02When you're filing your income tax return (ITR), it's crucial to be cautious while claiming tax exemptions and deductions. The tax department might ask for proof of the deductions and exemptions you've claimed in your ITR, both for the current year and past years. If you can provide the required evidence, there's no need to worry.
Buy or Rent: Which is the Better Choice?
Mitali 10 August 2023 at 15:53Here is the detailed analysis regarding whether to buy a house or rent one in India, taking into account various factors, including income tax laws.
Consequences of Late Filing of ITR u/s 139(1)
Savan Patel 08 August 2023 at 08:40Filing an ITR after the due date can have serious consequences, such as late filing fees, loss of carry-forward benefits, delayed refunds, interest on outstanding tax liability, penalty, and criminal prosecution. It is important to understand these consequences and to take steps to avoid them.
Speed Up Your Income Tax Refund: Simple Steps to Get Your Money Faster
Rashmi 08 August 2023 at 08:40Receiving an income tax refund is like finding a little treasure in your mailbox, but the wait can be a test of patience. Luckily, there are practical ways to make the process quicker.
All about Advance Tax
Savan Patel 07 August 2023 at 08:45Advance tax is a type of tax that is paid in installments throughout the financial year rather than as a lump sum at the end of the year. It is intended to help the government collect tax revenue in a more timely manner.
Sugar Manufacturing Co-operatives may now get their old IT demands dropped by filing applications u/s 154 and 155(19)
Vivek Jalan
05 August 2023 at 09:11
The recent amendments in the Income Tax Act have provided much-needed relief to co-operative sugar factories operating in India by allowing deductions for sugarcane purchases made at or below the government-approved price. T
Be Cautious of Fake Income Tax Refund Messages: Protect Yourself from Scammers
Rashmi 05 August 2023 at 09:11As the Income Tax Return filing deadline for non-audit cases for the assessment year 2023-24 has passed, many taxpayers have begun receiving their refunds after their returns have been processed by the tax department.
Demystifying the Record-Breaking Surge in Income Tax Returns
Rashmi 02 August 2023 at 12:58Record-Breaking Surge in Income Tax Returns: A Comprehensive Guide to Checking and Understanding Your ITR Status Online
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