Friends, for the last 10-15 days, we have all been talking about or trying to understand one thing, and that is the newly introduced section 43B(h) of the Income Tax Act, 1961, through which MSMEs’ payments will not be delayed even for a day. Friends, I will provide you with full information in this blog … Read more
On October 1, 2023, a landmark amendment to the Goods and Services Tax (GST) regime kicked in, reshaping the e-commerce landscape for unregistered suppliers and composition taxpayers. With access to previously restricted online marketplaces, this change has sparked both excitement and questions within the CA community. Let’s unpack the specifics of this amendment and its … Read more
Introduction Unfair Taxation: Have you ever wondered why taxes in India seem so burdensome? With only 5% of the population paying direct taxes, the tax burden continues to weigh heavily on them. Join us as we delve into the nuanced reasons behind the high tax rates in India. The Burden of Direct Taxes Only 5% … Read more
As the deadline for filing income tax returns (ITR) approaches on July 31, taxpayers are reminded of the importance of declaring all sources of income. Some individuals might be tempted to hide certain earnings, hoping to evade scrutiny by the Income Tax (I-T) Department. However, this is a misguided strategy. The I-T Department employs a … Read more