Income Tax Articles

All about Income Tax Audit

Ashok Pitroda 31 March 2023 at 08:58

There are many types of audits conducted under various laws. Similarly, an audit conducted under the Income Tax Act, 1961 is called a ‘Tax Audit’. In the Income Tax Act, 1961, section 44AB mandates provisions for a tax audit, which are explained as follows. In the following circumstance, a tax audit will be mandatory.

Impact Of Finance Act 2023 On Charitable Trust

Geetanjali Pandey 30 March 2023 at 10:16

Impact Of Finance Act 2023 On Charitable Trust and Institution Referred to In Section 12AA Or 12AB Or Clause (23C) Of Section 10 of The Act, 1961

Section 70: Power of Summon

Harsh Kaushik 30 March 2023 at 09:01

Section 70 of the CGST ACT 2017 empowers the Proper Officer(PO) to summon any person whose attendance he considers necessary either to give evidence or to produce a document or any other thing as required in an inquiry.

Professional Tax: Slab rates for states in India

Shivani 29 March 2023 at 17:03

Professional Tax is a type of tax levied by state governments in India on individuals and organizations engaged in professions, trades, and employment. The tax ..

New Taxation Rules for Online Gaming

Rashmi 29 March 2023 at 08:53

TDS Applicable from April 1, 2023 and Double Penalty for Non-Compliance

Harmonisation/Arrangement of Provisions Contained in Finance Bill/Act

Latish Alwani 28 March 2023 at 09:02

Harmonisation / Arrangement of Provisions Contained in the Finance Bill / Act

Auto Income Tax Calculator for FY 2023-24 and AY 2024-25

Pranab Banerjee 28 March 2023 at 09:02

How to save your income tax for AY 2023-24 with Auto calculate Income Tax Calculator All in One for the FY 2023-24 and AY 2024-25

Key Amendments in India's Finance Bill 2023: A Focus on Taxation and Litigation

Rashmi 27 March 2023 at 15:18

The Finance Bill 2023 is a bill that includes tax proposals for the fiscal year beginning on April 1, 2023. It was passed by the Lok Sabha, the lower house of the Indian Parliament, on March 24, 2023. The Lok Sabha has passed the Finance Bill 2023 with 64 official amendments.

Tax Planning while setting up of a business with reference to nature of business

CMA SIVAKUMAR A,ACMA. 25 March 2023 at 15:32

Tax Planning while setting up of a business with reference to the Nature of business related with AY 2021-2022, AY 2022-2023 and AY 2023-2024. An analysis of Eight important Deductions as per the Income Tax Act.

Taxability of life insurance policies not eligible for exemption u/s 10(10D)

Geetanjali Pandey 25 March 2023 at 10:42

Sec 10(10D) provide exemption with respect to any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, where premium payable for any of the year during the tenure of the policy