Margav Shukla 
Building trust and faith in the taxation system is crucial, and a significant step to achieve this was introduced in the Finance Act (No. 2) 2024. As per the recent amendments, the Income Tax authorities have reduced the time limit for reopening cases, effective from September 1, 2024. This article provides an in-depth analysis of […]
Income Tax offers tax relief to charitable organizations registered under the Income Tax Act. This is different from being registered under the Act through which it is incorporated, i.e., under the Companies Act, Societies Act, Local Public Trust Act, etc. The registration process for charitable trusts under the Income Tax Act underwent a major change […]
Introduction Section 43B of the Income-tax Act, 1961(the Act), allows certain statutory payments as deduction only on actual payment basis and further as per first proviso to Section 43B of the Act, if these payments are made on or before the due date of furnishing the return of income under Section 139(1) of the Act […]
The Supreme Court dismisses the review petition in the case of Rainbow Papers Limited thereby legal position held by the SC that tax authorities, in their pursuit of recovering tax dues, will be entitled to the same rights as secured creditors within the framework of the Insolvency and Bankruptcy Code, 2016 (IBC) waterfall mechanism. Background […]
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