Income Tax Articles
Understanding Section 194T: TDS on Payments to Partners - FAQs
Section 194T is a new provision introduced by the Finance (No. 2) Act, 2024, effective from April 1, 2025. It mandates Tax Deduction at Source (TDS) on certain payments made by firms to their partners.
Middle-Class Relief: Will Budget 2025 Address Rising Living Costs?
The Union Budget 2025 is highly anticipated, especially by middle-class households struggling with rising living costs due to inflation, housing affordability issues, and increasing expenses for essential services like education, healthcare, and transportation.
Government Likely to Introduce Simplified Income Tax Bill in Budget Session
The government is expected to propose a new Income Tax bill during the upcoming Budget session of Parliament, aiming to overhaul the current tax legislation.
Cash Transaction Limit for FY 2024-25
Individuals depositing in savings accounts INR 10 lakh or more in a financial year must notify tax authorities.
Tax Implications on purchase and sale of Immovable Property
The purchase of immovable property is not just a strategic investment but also a transaction laden with tax implications under various provisions of the Income Tax Act, 1961.
Tax Harvesting Secrets Turn Capital Gains into Tax-Free Wealth
Tax harvesting involves strategically selling investments to realize gains or losses, thereby managing the tax liability.
Section 40A(2)(b): Domestic Transfer Pricing in GST Era
Domestic transfer pricing: Specified Domestic transaction to exclude payments made u/s 40A(2)(b); Inter-unit comparison of net profit in these GST times
Streamlining Tax Laws: Merging Provisions, Enhancing Officer Accountability and Promoting Ease of Compliance
Today each Section and Rule of The Income Tax Act is flooded with Provisions and explanations. Then there are circulars as well as notifications, some of which are so old that it is even difficult to find them publicly.
Empowering Charitable Trusts and NGOs Tax, Compliance and Operational Mastery
his guide provides a comprehensive roadmap for managing these organizations, covering formation and registration (Trusts, Societies, or Section 8 Companies), taxation frameworks (exemptions under Sections 11, 12, and 80G), compliance and reporting
Importance of Nil TDS Return Filing for Businesses
Let's discover why a Nil TDS Return Filing is important for businesses.
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