Form 10IEA Choose Old Tax Regime Form 10IEA Choose Old Tax Regime Form 10-IEA serves as a pivotal tool for professionals and business owners who intend to persist with the old tax regime in the current financial year. This form, introduced by the Central Board of Direct Taxes, holds particular significance amidst the alterations proposed … Read more
ITR-1 ITR-2 and ITR-4 for FY 2023-24 As we embark on a new financial year, taxpayers are gearing up for the task of filing their Income tax returns (ITRs) for the financial year 2023-24. The Income Tax Department has introduced three primary forms – ITR-1, ITR-2, and ITR-4 – for e-filing purposes. This blog aims … Read more
Filing Income Tax Returns for FY 2023-24 As we step into the new financial year, it’s time for taxpayers to gear up for filing their Income Tax Returns for the financial year 2023-24 (AY 2024-25). Filing Income Tax Returns for FY 2023-24 The Income Tax Department has rolled out online Income Tax Return (ITR) forms, … Read more
Section 43Bh of Income Tax Act Section 43Bh of Income Tax Act The Finance Act of 2023 introduced Section 43B(h), which specifies that any amount owed to Micro and Small enterprises for goods supplied or services rendered can be deducted within the same fiscal year if it is settled within the deadline set by the … Read more
Cost Inflation Index For FY 2023-24 Over time, the prices of goods tend to rise, leading to a decrease in the purchasing power of money. For instance, if today you can buy two units of goods for Rs 100, tomorrow you might only be able to purchase one unit for the same amount due to … Read more
