Tag: Income tax act

The New 45-Day Payment Rule for MSME Registered Units – Section 43B(h) Explained

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Starting from the year 2024-25, there’s a new rule for companies. They must pay any pending bills to small businesses within 45 days. If they don’t, they’ll have to pay more tax for the years 2023-24. This is because they can only claim deductions for payments they make in that year. Companies need to follow…

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Income Tax, Income tax Act 1961, Income Tax Deduction, Media, MSME, Section 43B(H), Udyam Registration

Answers to all your inquiries about the new income tax regime system

Posted on By Chandan Tiwari No Comments on Answers to all your inquiries about the new income tax regime system

In Budget 2023, a new personal income tax regime system for individual taxpayers was unveiled. Taxpayers will be able to select between the current/old tax regime and the new tax regime starting in FY 2020–21. By choosing the previous tax system, the taxpayer can continue to take use of current tax benefits such house rent…

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Income Tax, Aatma Nirbhar Bharat, Budget 2023, Business Income, Capital Gain, Central Government, Crypto Currency, Digital Payments, Direct Tax, Employee Pension Scheme, EPFO, File Your Income Tax Return, Indirect Tax, Interest rates, Investment, investment in bonds, Long Term Capital Gain, Marketing, Media, Mutual Funds, New Tax Regime, Old Tax Regime, PAN Card, POST OFFICE, Salary Income, Section 44AD, Section 44ADA, Small Savings, Sovereign Gold bond scheme, Tax Regime, Tax Saving Scheme, Tax Slabs

Government will end disputed retrospective tax law, companies like Cairn Energy, Vodafone will benefit

Posted on By Chandan Tiwari No Comments on Government will end disputed retrospective tax law, companies like Cairn Energy, Vodafone will benefit

The Central Government has decided to do away with the disputed tax, in which there was a provision to collect tax from the companies from the previous date, it is called Retrospective Tax. The Central Government on Thursday introduced the Taxation Laws (Amendment) Bill, 2021. After the passage of this bill, the disputed law levying…

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Income Tax, Lok Sabha, Marketing, Media