Taxchanakya

On July 23, 2024, Finance Minister Nirmala Sitharaman presented Budget 2024 including revisions to the Tax Deducted at Source (TDS) rates. TDS Sections Current TDS Rate  Proposed TDS Rate Effective…

Union Budget 2024-2025 presented by Finance Minister Nirmala Sitharaman on 23 July 2024, the new tax regime got better for the middle class in India. Standard deduction has been increased…

Nirmala Sitharaman, Hon’ble Finance Minister, presented the first budget on 23rd July 2024, of the current government. The budget, particularly, focuses on employment, skilling, MSMEs, and the middle class and…

While presenting the Union Budget 2024-25, Finance Minister Nirmala Sitharaman emphasized tax simplification, improved taxpayer services, and reduced litigation. Simplifying Taxation for Greater Transparency and Efficiency.  She has proposed thoroughly…

Finance Minister Nirmala Sitharaman on Tuesday announced three employment-linked incentive schemes under the Employees’ Provident Fund Organisation (EPFO) to boost hiring under Union Budget 2024- 2025 Schemes, including Scheme A…

The Goods and Service Tax (GST) Council in its 53rd meeting on June 22 waived off interest and penalty on tax demand notices for the period 2017-2020, provided the assessee…

The appeals filed by staff unions and officers’ associations of various banks, impugning judgments which dismiss their writ petitions, where the vires of Section 17(2)(viii) of the Income Tax Act,…

Newly established and incorporated startups often face shortage of financial resources during their initial stages of operations. This further has a negative impact on their sales and profits. The situation…

Minimum Alternate Tax (MAT) is a tax effectively introduced in India by the Finance Act of 1987, vide Section 115J of the Income Tax Act, 1961 (IT Act), to facilitate…