Section 40A(2) talks explicitly about the payment of an expenditure to a related person. This means that if you hav...
Read MoreSection 69A of the Income Tax Act is a significant provision that addresses tax implications related to goods owner...
Read MoreThe case of Income Tax Officer vs Vikram Sujit Kumar Bhatia is a landmark decision by the Supreme Court of India th...
Read MoreIn a recent ruling, the Income Tax Appellate Tribunal (ITAT) has provided clarity on the applicability of Tax Deduc...
Read MoreIn the realm of tax litigation, the case of Deputy Commissioner of Income Tax vs M/S Pepsi Foods Ltd holds signific...
Read MoreWith a three-tier federal structure made up of the Union Government, the State Governments, and the Urban/Rural Loc...
Read MoreThe income tax penalty may be reduced or eliminated entirely at the Commissioner's discretion. Taxpayers are obliga...
Read MoreAccording to the Income Tax Act, "house rent" refers to the amount paid as rent for a residential accommodation occ...
Read MoreAccording to the Income Tax Act of 1961[1], "Association of Persons" (AOP) is defined as any organization consistin...
Read MoreIncome tax is computed in India using income tax slabs and rates depending on the applicable financial year (FY) an...
Read MoreThe last date for ITR Filing for Annual Year 2023-24, for income made in Financial Year 2022-23, the last date to f...
Read MoreBeing a Chartered Accountant (CA) in India is essential for tax planning and savings. CAs are financial experts wit...
Read MoreA business form known as a sole proprietorship is run and owned by just one person. In this kind of business, the p...
Read MoreIncome Tax Act, 1961 prescribes different types of Income Tax notices. Each type of notice serves an independent pu...
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