Taxation Concept & distinction between of Real Income vs. Deemed Income: The distinction between real income and deemed income is a fundamental concept in income tax law. It determines when and… Read More
Overview on TDS U/s 194T- Payment to partners of firm Introduction of Section 194T: Prior to this, Tax Deducted at Source was not applicable on payments like salary, remuneration, interest,… Read More
Guidelines for submit request Condonation of Delay If you miss the e-verification deadline for your ITR, your return will be considered invalid, which essentially means it will be treated as… Read More
Consequences of Not Filing ITR on Time If you are mandated to file an Income Tax Return and miss the deadline, you can still file your tax return as a… Read More
Indexation benefits & its Limitation under Capital gains tax calculation In a significant development, the FM -Nirmala Sitharaman has moved for amendments to the Finance Bill, introducing changes to the… Read More
Highlight significant issues in regulatory framework governing IPs & CoC The current regulatory environment for IPs indeed presents significant challenges. Addressing these concerns requires a balanced approach where both the… Read More
CBDT: TDS/TCS provisions on death of deductee/collectee before linking of PAN & Aadhaar The Central Board of Direct Taxes has issued Circular No. 8 of 2024 on August 5, 2024,… Read More
Ministry of Finance Revises LTCG Indexation Budget Proposal on Real Estate For properties acquired on or before 23rd July 2024, taxpayers will have the option to choose between the new… Read More
Why is Income Tax Dept On ITR Processing Slow This Year? Overall 25% Less ITRs have been processed so far. ITR 2 Processing Growth: -59% ITR 3 Processing Growth: -37%… Read More
What is the Income tax Penalties for late or belated ITR filing for AY 2024-25? Taxpayer may please note there will be NO EXTENSION in ITR Filing this time. Kindly… Read More