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Auto Calculate Income Tax Arrears Relief Calculator u/s 89(1) with Form 10E for FY 2023-24 and AY 2024-25
15 February 2024
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The Minister of Finance has announced a new tax regime in the 2020 budget, including additional tax brackets and lower tax rates. Many taxpayers had long requested it, but it came with the condition that all deductions and deductions allowed under the old tax system would be revoked.
Foreign Exchange Impact & Fluctuation Risks
Have you ever wondered that Why is there a risk of foreign currency associated with every Export-Import House? And what are those risks? Why do Foreign Currency...
Tax Time Made Easy: Mastering 43B(h) with a Friendly Q&A and Year-Specific Dates
Today, we're diving into the world of Indian Tax Law, specifically Section 43B(h) of the Income Tax Act, 1961.
All about Section 43B (h) of Income Tax Act, 1961 related to MSME Enterprises
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.
Understanding NRE and NRO Accounts: Tax Implications and Differences for NRIs
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.
ISD vs Cross Charge: The Budget Twist
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.
Statutory Tax Compliance Tracker - February 2024
Tax Compliance Tracker for the month of February 2024
The High Court's Ruling on NCLT's Powers under the IBC regarding GST demands
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.
TDS Deductors may witness notices on deduction if the counter-party disagrees
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
Section 43B(h) - Income Tax Implications w.r.t MSME from AY 2024-25
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).
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