Why Your Tax Refund is Delayed and How to Resolve It
Filing your Income Tax Return (ITR) on time is crucial, but receiving your tax refund promptly is not always guaranteed. Various factors can cause delays in the refund process, which…
CBDT relaxes provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar
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
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…
RBI Directs Banks to Block Credit for Wilful and Large Defaulters
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
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
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…
Reasons for Extending the Income Tax Return Filing Date
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)…
Transitioning from Old to New Tax Regime Post Budget 2024
Budget 2024 has introduced significant changes to the new tax regime, offering increased tax relief by revising income tax slabs and enhancing standard deductions. Taxpayers now face a crucial decision:…
Vivad se Vishwas 2.0: Settlement Made Easy
Vivad se Vishwas Scheme 2024 (VVS 2024) aims to streamline the resolution of long-pending tax disputes at the Commissioner (Appeals) level, building on the success of its 2020 predecessor. This…
ITR Filing FY 2023-24: Nearly 50% of Taxpayers Yet to File Due to Website Issues
For the financial year 2023-24, there have been significant issues with the Income Tax Return (ITR) filing process in India. Nearly 50% of taxpayers have not yet filed their returns,…