by Sakshi | Jan 25, 2023 | INCOME TAX
With Budget 2023 around the corner, middle-class taxpayers are hoping for a host of measures from Finance Minister Nirmala Sitharaman. A simplified capital gain tax regime, lower income slabs under the new tax regime, and higher income...
by Ishita Ramani | Nov 23, 2021 | INCOME TAX
Difference between Direct Tax and Indirect Tax in India Introduction In India, the government’s right to impose taxes is derived from the Constitution Of India, which divides the power to levy taxes between the state and central governments. All taxes charged in India...
by Anil Kumar Tenneti | Oct 14, 2021 | TC
Background -This clause was inserted by the Central Board of Direct Taxes through its Notification No. 36/2009 dated 13-4-2009, in the Form No.3CD in Appendix II of the Income-tax Rules, 1962.Clause 22 of Form-3CD : Interest Paid to MSME Creditors The tax auditor is...
by CA Heer Gajjar | Oct 13, 2021 | TC
How to File an Appeal with ITAT ?? Introduction ITAT i.e. Income Tax Appellate Tribunal is a quasi-judicial authority. It looks into litigation cases for the Direct Taxation Regime (i.e. only Income Tax cases currently as wealth tax was abolished w.e.f FY 2015-16) and...
by CA Jayprakash Pandey | Aug 14, 2021 | TC
CBDT issues refunds of over Rs. 47,318 crore to more than 22.61 lakh taxpayers between 1st April, 2021 to 09th August, 2021. Income tax refunds of Rs. 14,241 crore have been issued in 21,38,375 cases & corporate tax refunds of Rs. 33,078 crore have been issued in...
