Starting from April 1, 2024 (AY 2024-25), Section 43B(h) of the Income Tax Act introduces significant changes concerning expenses related to purchases or services from Micro and Small Enterprises (MSMEs)....
1. Notice under Section 139(9):
Purpose:
Section 139(9) empowers the Assessing Officer (AO) to issue a notice when there is an error apparent on the face...
CA Devesh Thakur
Income from house property
This topic is governed by Sections 22 to 27 of the Income Tax Act.
Annual Value of Property (Section 22)
The...
Demystifying Form 16: Your Complete Guide to Understanding the Backbone of Salary Taxation
CA Devesh Thakur
Form 16Description: Certificate under Section 203 of the Income Tax...
Definition:
CA Devesh Thakur
Capital gains arise when a depreciable asset is sold at a price higher than its written down value. Depreciable assets include tangible...
