07 May Important Guidelines for Compulsory Scrutiny of Returns for FY 2024-25
Discover the complete guidelines issued by the CBDT for compulsory scrutiny of returns for the Financial Year 2024-25. Streamline tax assessment effortlessly. ...
Direct Tax
06 May Supreme Court Refuses to Hear MSEs’ Plea Challenging 45-Day Payment Rule under Income Tax Act
The Supreme Court's decision on Monday (May 6) to decline hearing a plea filed by Micro and Small Enterprises (MSEs) challenging the 45-day payment rule under Section 43B(h) of the Income Tax Act has significant implications for both MSEs and buyers....
04 May Govt may focus on stricter compliance to boost corporate income-tax
The government may focus on stricter compliance to boost corporate income-tax (CIT) collections in the current financial year after tax revenues from companies fell short of the budgeted target in 2023-24, two people aware of the matter said....
29 Apr Legal Battles Mount As Startups Contest Tax Demands Post ‘Angel Tax’ Easing
Seven months following the relaxation of valuation norms for foreign investments in Indian startups, the landscape remains turbulent....
26 Apr Stay Ahead of the Curve: Updated Form Utility and Schema Launched!
The Income Tax Department recently announced the release of the updated Form Utility and Form Schema for Forms 3CA-3CD and 3CB-3CD....
22 Apr Don’t Get Penalized: Essential Tips for Navigating Section 43B(h) Compliance
Discover actionable strategies to ensure compliance with Section 43B(h) of the Income Tax Act 1961. Learn how to avoid penalties and foster business growth effortlessly!...
22 Apr Income Tax Department Sets Up Control Room for Cash Transactions
In light of the upcoming general elections, the Pune income tax department has taken a proactive step to tackle the misuse of money and monitor cash transactions effectively....
20 Apr Making Informed Choices: Old vs. New Tax Regimes
In the ever-evolving landscape of taxation, choosing between India's old and new tax regimes demands a careful consideration of various factors....
20 Apr Income Tax Alert: 5 High-Value Transactions That May Come Under Scrutiny
In recent times, a misconception has been prevalent among the people regarding the traceability of cashless transactions by the Income Tax Department (ITD)....
20 Apr To beat the last minute rush, some taxpayers start filing ITRs early
To beat the last minute rush, at least some taxpayers have started filing their income tax returns for assessment year 2024-25 after the Central Board of Direct Taxes (CBDT) enabled functionalities for commonly used income tax returns from April 1 this year....