MSME 45 Days Payment Rule-43(b)h, explained with examples – No date extension yet, so do this till 31 March
Introduction: Effective from April 1, 2023 (FY 2023-24 & AY 2024-25), the amendment to Section 43B(h) of the Income Tax …
Income Tax
New Guidelines for Section 194-O of the IT Act
CBDT issued Circular No. 20/2023 Dated 28 December 2023 to issue Guidelines for Removal of difficulties and clarity has been …
Do you have old pending ITR’s for which intimation not received yet & refund is awaited? Good news for you
Ministry of finance issued order under section 119 of income tax act to process the pending returns for whom intimation …
New Discard Return under Income Tax active – know About Discard Return
Recently from 27 November 2023 Income Tax Portal introduced a new Return option naming Discard Return under the Tab e …
What is Permanent Account Number (PAN)
What is PAN? PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in …
If you sold your property than section 54 can save your tax
A person wanted to shift his residence due to certain reason, hence, he sold his old house and from the …
Deduction in respect of purchase of electric vehicle (EV’s) – 80EEB
Section 80EEB is a provision under the Income Tax Act, 1961, which provides tax benefits on the interest paid on …
Deduction in respect of royalty on patents – Section 80RRB
Deduction in respect of royalty on patents. 80RRB. (1) Where in the case of an assessee, being an individual, who is— …
Deduction in respect of contributions given by any person to political parties – 80GGC
80GGC. In computing the total income of an assessee, being any person, except local authority and every artificial juridical person wholly …
Section 80CCD – Deduction for Contribution to Pension Funds (NPS & AYP) by employee, employer and voluntary contribution
Section 80CCD of the Income Tax Act, 1961 is a provision that provides tax benefits for contributions made towards the …
