Reduce Tax Burden: Understanding the Cost Inflation Index in India
Get a comprehensive understanding of the Cost Inflation Index (CII) in India, and learn how it impacts your capital gains tax liability. Stay updated and save on taxes today!
CBDT notifies New ITR Forms for AY 2023-24 (ITR 1 Sahaj, 2, 3, 4 Sugam, 5, 6, 7)
CBDT has notified new Income Tax Return (ITR) Forms in respect of Assessment Year (AY) 2023-24, i.e. ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 and ITR-7, vide Notifications …
ICAI Technical Guide on Expatriates Taxation (Revised 2023)
The ICAI has published the revised 2023 edition of the "Technical Guide on Expatriates Taxation" to clarify important international tax issues, like residential status, salary taxability, PF rules for …
CBDT’s 24 Clarifications/FAQs on e-Verification Scheme 2021
CBDT has released 24 clarifications through a set of FAQs on the e-Verification Scheme 2021, announced in Notification 137/2021, on the procedures and processes thereof.
Profession Tax in West Bengal: FAQs
FAQs about profession tax in West Bengal, including the applicability, exemption, registration process, tax rates and filing of returns.
Presumptive Tax Scheme Limits Increased us/ 44AD & 44ADA: Finance Bill 2023
The Finance Bill 2023 proposes raising the presumptive taxation thresholds for micro enterprises (small businesses) and certain professionals to Rs. 3 crore and Rs. 75 lakh, respectively, if their …
Exemption u/s 10(22B) for News Agencies withdrawn: Finance Bill 2023
As part of the move to gradually phase out exemptions and deductions, Clause 5 of the Finance Bill 2023 proposes to withdraw the income tax exemption u/s 10(22B) for …
Board Approval condition removed for Preliminary Expenditure: Finance Bill 2023
Section 35D of the Income Tax Act is proposed to be amended in Clause 12 of the Finance Bill 2023 to remove the requirement for using companies pre-approved by …
Carry forward of loss in strategic disinvestment cases: Finance Bill 2023
Clause 33 and 34 of the Finance Bill 2023 has proposed amendments in Sections 72A and 72AA of the Income Tax Act to facilitate certain strategic disinvestments, by allowing …
Tax Exemption to Development Authorities u/s 10(46A): Finance Bill 2023
Finance Bill 2023 proposes to insert a new Section 10(46A) to exempt the income of a body or development authority, such as a board, trust, or commission (not a …