CA ALOK KUMAR, Author at CA ALOK KUMAR

CBDT relaxes provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar

By CA ALOK KUMAR August 8, 2024Income Tax, Income Tax Act 1961, Non-filing of TDS Return, quarterly TDS returns, TCS Certificate, TDS ON SALARY INCOME, TDS payment reconciliation1 Comment

The Central Board of Direct Taxes (CBDT) has issued Circular No. 8 of 2024 on August 5, 2024, providing relief regarding the provisions of Tax Deducted at Source (TDS) and…

New MSME Support Fund Launched in Union Budget 2024-25 to Address 45-Day Payment Rule Challenges

By CA ALOK KUMAR August 3, 2024Income Tax Act 1961, Income Tax Department, Indian Budget, MSME, Tax Deducted at Source, The Finance Act 2023, Union Budget 2024-251 Comment

In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman has addressed the contentious 45-day payment rule that affects micro, small, and medium enterprises (MSMEs). This rule mandates that traders must…

Pregnancy is Not a Sickness and Cannot Justify Denial of Public Employment

By CA ALOK KUMAR August 3, 2024Physical Efficiency Test, Physical Measurement Test, Public Employment, Railway Protection Force1 Comment

The Delhi High Court recently issued a landmark judgment that pregnancy cannot be treated as a ground to deny public employment to women. This decision came from the case Isha…

RBI Directs Banks to Block Credit for Wilful and Large Defaulters

By CA ALOK KUMAR August 2, 2024Income Tax Act 19611 Comment

The Reserve Bank of India (RBI) has issued stringent directives to regulate the credit facilities provided to wilful and large defaulters. This move is aimed at strengthening the financial discipline…

SGB Taxation Changes 2024: New Capital Gains Tax on Sovereign Gold Bonds

By CA ALOK KUMAR August 2, 2024Income Tax Act 1961, Long-term Capital gain, Short-term Capital gain, Sovereign Gold Bonds, Sovereign Gold Bonds Taxation1 Comment

Sovereign Gold Bonds (SGBs) are a unique investment option for retail investors, providing a way to invest in gold without the need to hold physical gold. SGBs offer interest payments…

The Digital Age of Finance: Why Data Privacy is Your Financial Lifeline

By CA ALOK KUMAR July 31, 2024Finance Acts, Financial Lifeline, Income Tax Act 1961, InvestmentNo Comments

In today's technology-driven world, managing personal finances has become significantly easier through the use of budgeting apps, mobile banking tools, online investment platforms, and digital wallets. These advancements offer convenience…

India’s Next Generation Reforms and Strategic Policies

By CA ALOK KUMAR July 29, 2024Ease of Doing Business, Indian Economy, Next Generation Reforms, Skill Providers, Union Budget 2024-251 Comment

The Union Budget 2024-25, unveiled by Union Finance Minister Smt. Nirmala Sitharaman, charts an ambitious course for India’s economic evolution under the banner of "Next Generation Reforms." This transformative agenda…

Reasons for Extending the Income Tax Return Filing Date

By CA ALOK KUMAR July 29, 2024Income Tax, Income Tax Act 1961, Income Tax Order, ITR Filing, ITR Filing Due Date, ITR-1, source of income3 Comments

The All Gujarat Federation of Tax Consultants and the Income Tax Bar Association have requested an extension of the Income Tax Return (ITR) filing deadline for the Assessment Year (AY)…

Angel Tax Eliminated for All Investor Classes

By CA ALOK KUMAR July 29, 2024Angle tax, Foreign Direct Investment, Investor, Start up1 Comment

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, announced the abolition of the 'angel tax' for all investor classes while presenting the Union Budget 2024-25 in Parliament today.…

FAQs Issued by CBDT on the New Capital Gains Tax Regime Proposed in the Union Budget 2024-25

By CA ALOK KUMAR July 27, 2024Capital Gain, CBDT, Income Tax, New Tax Regime, New Tax System, Tax Filing In India, Tax in India, Tax Information Statement, Tax on capital GainNo Comments

FREQUENTLY ASKED QUESTIONS (FAQs) What are the major changes brought about in the taxation of capital gains by the Finance (No.2) Bill, 2024? The taxation of capital gains has been…

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