The Finance Act, 2023 introduced Clause (h) under Section 43B of the Income Tax Act, which disallows deduction for payments due to Micro and Small Enterprises (MSEs) if not made within the prescribed ...

ITAT Surat held that interest paid in respect of business profit attributable to section 80P (2) of the Income Tax Act is allowable. Accordingly, AO directed to consider direct nexus of interest paid ...

The company expressed confidence in its position, stating that it has strong grounds to challenge the order and is taking ...

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance ...

Businesses that own, lease, or charter aircraft should prepare for increased IRS scrutiny by closely reviewing their ...

but residents in a few parts of the country don't have to pay state income taxes. Eight U.S. states don't impose any kind of income tax and one only taxes income generated from interest and dividends.

Swiggy said it has a strong case on merits and will be filing an appeal against the order before the appropriate authority.

Holding mutual funds, stocks, or ETFs in taxable accounts? You might face a surprise tax bill. Here's how to minimize the ...

This package might only make sense for you if you have W-2 income and need help with claiming basic tax breaks such as the child tax credit and the student loan interest deduction. The paid ...

Tax season is in full swing, but you can make the process less painful and time-consuming by filing online. The best tax-prep offerings have free and paid ... W-2 income Limited interest and ...

The Indian government has introduced a new tax rule for partnership firms, which will come into effect from April 1, 2025.