No Tax Exemption for Concessional or Interest-Free Loans from Employers, Rules Supreme Court Understanding the Tax Implications of Concessional Interest Rate Loans for Bank Employees Employees who receive loans at a concessional interest rate from their employers are required to pay income tax, leading to a significant impact on their…

CBDT Directs Officers to Identify Top 30 TDS Shortfall Cases by June 30 Interim Action Plan by the Central Board of Direct Taxes Outlines Key Focus Areas for Fiscal Year 2024-25 The Central Board of Direct Taxes (CBDT) has rolled out its interim action plan for the fiscal year 2024-25,…

Common offline utility for Form 3CA-3CD and 3CB-3CD has been released, and point regarding 43B(h) has been updated Common offline utility for Form 3CA-3CD and 3CB-3CD has been released, and point regarding 43B(h) has been updated (point no 26). Common offline utility for Form 3CA-3CD and 3CB-3CD Form 3CA-3CD: Audit…

Finance Ministry Clarification on the New Tax Regime Under Section 115BAC(1A) It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that: There is no new change which is coming in from 01.04.2024. The new…

Maximizing Returns: Tax-Efficient Investment Strategies for Indian Stock Market Investors When filing your income tax return (ITR), it is crucial to consider an investment plan that can lead to tax savings. While focusing on investment returns, it’s essential not to overlook potential tax benefits. Understanding the tax implications of stock…

Can you go to jail for not filing your income tax returns? Delhi Court recently convicted and sentenced a woman to six months in jail for not filing a return on income of Rs 2 crores. Additional chief metropolitan magistrate Mayank Mittal sentenced the woman, identified as Savitri, after hearing…