On February 14, 2024, the Insolvency and Bankruptcy Board of India (IBBI) released a report recommending a voluntary mediation framework for various IBC processes. The expert committee, led by Dr. T. K. Viswanathan, explored the feasibility of integrating mediation into the IBC system.
In this article we will discuss the intricacies of Section 80P, drawing insights from the recent Tribunal case of Sardar Patel Co-Operative Credit Society Ltd. v. Deputy Commissioner of Income-tax, Circle-2(3) (IT APPEAL NO. 645/SRT/2023).
Today, we're diving into the world of Indian Tax Law, specifically Section 43B(h) of the Income Tax Act, 1961.
Managing finances as a Non-Resident Indian (NRI) involves understanding the tax implications and differences between Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. Both NRE and NRO accounts have specific purposes and distinct tax considerations. Let's delve into the details of these accounts and explore their tax implications.
Since the inception of GST Era, we have been witnessing the confusion in the trade regarding applicability of cross charge and Input Service Distribution (hereinafter referred as "ISD") for the common input services received by taxpayer which will be used by receiving unit as well as distinct person registered under section 25 of the CGST Act, 2017.
The Insolvency and Bankruptcy Code of India, enacted in 2016, revolutionized the country's insolvency landscape by providing a consolidated framework for resolving corporate insolvency cases swiftly and efficiently.
Today everyone is talking about section 43B (h) of the Income Tax Act which is related to MSME Enterprises. Everything is curious to know when this will be applicable. What will happen if it becomes applicable? Will it apply to everyone? Today I will explain everything about this section in this article.
Advance income tax collection through TDS/TCS mechanism has been a top target of the Government, along with tracking of the flow of income on goods or services. Over the years we have witnessed the TDS/TCS mechanism getting wider and more stringent
Commencing from April 1, 2024 (AY 2024-25), Section 43B(h) of the Income Tax Act introduces significant changes concerning expenses related to purchases or services from Micro and Small Enterprises (MSMEs).
Don't miss out on tax-saving opportunities! Learn about Section 80C Deductions and make smart investment choices for FY 2023-24 (AY 2024-25).
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