Central Board of Direct Taxes (CBDT) has announced a new extension in the deadline for linking PAN and Aadhaar. This announcement comes as a relief to taxpayers who were worried about the repercussions they would face if...
If you have a PAN card, it is essential for you to link it with your Aadhaar card. According to Section 139AA of the Income Tax Act, every individual who has been allotted a permanent account number (PAN) and who is...
The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24 through Notifications No. 04/2023 dated 10-02-2023 and 05/2023 dated 14-02-2023. ...
The Finance Bill 2023, presented by the Honorable Minister of Finance on February 1, 2023, proposes a special amendment to Section 43B of the Income Tax Act, 1961, aimed at making it more favorable for Micro, Small, and ...
The Finance Minister presented the Finance Bill 2023 on February 1, 2023, proposing amendments to make the new 115BAC personal tax regime more appealing. In the old tax regime, there are deductions for certain invest...
Budget 2023 has proposed to insert a new section 115BAE to support and give a boost to newly established manufacturing cooperative societies that start operations between April 1, 2023 and March 31, 2024. This s...
The Finance Bill 2023, presented by the Honorable FM on February 1, 2023, proposes a series of amendments in the Personal Taxation domain to make the new 115BAC personal tax regime more appealing to taxpayers. The ma...
Section 194B of the Income-tax Act, requires that the person responsible for paying any income in the form of winnings from lottery, crossword puzzles, card games or any other game to deduct TDS if the amount exceeds 10,...
The Budget 2023 has delivered an eagerly anticipated raise in the threshold limit for the presumptive taxation scheme. Let's decode the effect of Budget 2023 on the increased threshold limits for the presumptive s...
Union Minister of Finance Nirmala Sitharaman released the Union budget for 2023 yesterday, in which she proposed to extend the benefit of the standard deduction to the new tax regime. She stated, "Each salaried p...
