Income Tax Deduction Allowed Only On 'Actual Payment' Of Sum Payable by Assesses to MSMEs – Budget 2023 proposal

By: Mr. Prasanna Ravikant Bhat - 7th February, 2023


With the objective of promoting timely payments to Micro and Small Enterprises, Hon

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Union Budget 2023

By: Mr. Prasanna Ravikant Bhat - 2nd February, 2023


Income rebate u/s 87A limit in new tax regime has been increased to Rs 7 Lakh from Rs.5 Lakh presently i.e.,if a taxpayer has income upto Rs.7 Lakh, there is no income tax.

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194R TDS on benefit or perquisite in respect of business or profession

By: Mr. Shashank Mundle - 20th June, 2022


The Central Board of Direct Taxes under the Income Tax department has notified fresh guidelines in connection with the applicability of a new TDS provision related to receiving benefits in a business or profession.

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PAN-AADHAAR Linking

By: Mr. Mohit Shetty - 2nd June, 2022


Section 139AA of the Income Tax Act states that every person who has been allotted and who is eligible to obtain Aadhaar number shall link his PAN with Aadhaar.

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Certificate in Form 10BE for Claiming Deduction u/s 80G

By: Mr. Prasanna Ravikant Bhat - 27th May, 2022


All trusts/institutions registered u/s 80G and research institutes registered u/s 35 of The Income Tax Act are now mandated to file Form 10BD (providing therein complete details of donations received by them during the financial year in the prescribed format) from FY2021-22 onwards.

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