Introduction Section 43B(a) of the Income Tax Act, 1961, is a critical provision that ensures that taxpayers can only claim deductions for certain expenses, including taxes, duties, cess, or fees,…
The landscape of tax laws in India is continually evolving, with various amendments reflecting changes in the economic environment. One such significant amendment was the omission of Section 36(1)(x) of…
Introduction The Indian Income Tax Act has been continuously evolving to address the complexities of tax compliance and improve the ease of doing business. One significant proposal on the horizon…
Introduction In a move to enhance tax compliance and broaden the tax base, the government has proposed the introduction of a new section, 194T, in the Income Tax Act. This…
In the realm of tax laws, Section 34 of the Income Tax Act is a significant provision that lays down the conditions for availing depreciation allowance and development rebate. This…