SC Upholds Reopening & Taxes 35% Revenue Share as Business Receipt Court: Supreme Court of India (Civil Appellate Jurisdiction) Case Name: Sanand Properties P. Ltd. vs. Joint Commissioner of Income Tax, Range 6 & Ors. […]
SC Upholds Reopening & Taxes 35% Revenue Share as Business Receipt View Full Article »
Introduction Taxation is an essential aspect of any country’s economic framework, as it plays a pivotal role in generating revenue for the government. In India, the taxation system is multifaceted, encompassing various aspects of individual
How Business Income is taxed in India? View Full Article »
Search and Seizure : The Supreme Court on 06th April 2023 delivered a landmark verdict in case of Income Tax Officer vs Vikram Sujitkumar Bhatia and 114 connected cases ( in C.A. No. 911/2022 )
Allowances in Salary : Different types of allowances are given to employees by their employers. Generally allowances are given to employees to meet some particular requirements like house rent, expenses on uniform, conveyance etc. Under
Partially Exempt Allowances in Salary Income View Full Article »
ITR Forms For Asstt Year 2023-24 : The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Asstt Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated
New Income Tax Return Forms – ITR Forms for Asstt Year 2023-24 View Full Article »
India’s Union Budget 2023 was presented by the Finance Minister on 1st February 2023. The budget focuses on boosting infrastructure, healthcare, education, and agriculture. Overall, the budget aims to create a self-reliant India and provide a
Budget 2023 : Amendments Relating to Direct Taxes View Full Article »
Income from salary is one of the major sources of income for individuals and is subject to income tax. As per the Income Tax Act of 1961, salary income is defined as any payment received
How to Compute Salary Income for Asstt Year 2023-24 View Full Article »
Deductions and Exemptions can help reduce your tax liability and increase your refund, but understanding the eligibility criteria, documentation requirements and the process of claiming them can be complicated. In this article, we will provide
Understanding Income Tax Deductions and Exemptions View Full Article »
