Bogus Transactions

Admit Bogus Transactions, Face Reassessment – Gauhati HC Ruling

December 11, 2024Posted inBogus Transactions, Finance Acts, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, reassessment notice, Sec.148 of Income Tax Act, source of income, The Finance Act 2023No Comments
Notice Under Section 148A(b): Gauhati High Court Upholds Validity in Case of Bogus Transactions The Gauhati High Court recently addressed the validity of notices issued under Section 148A(b) of the…
MSMEs

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

August 3, 2024Posted inIncome 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…