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![Budget 2023: Major changes under Income Tax Act 1961 [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Act-1961-Income-Tax-Act-budget-2023-union-budget-2023-nirmala-sitharaman-budget-2023-india-union-budget-2023-live-taxscan.jpg "Budget 2023: Major changes under Income Tax Act 1961 [Read Finance Bill]")
Budget 2023: Major changes under Income Tax Act 1961 [Read Finance Bill]
The Finance Minister Nirmala Sitahraman in the 2023 Budget has proposed huge changes in the Direct Tax. The tax benefit is mostly beneficial...
![[BREAKING] Finance Ministry Notifies Finance Act, 2022: Know the Key Changes [Read Act]](https://www.taxscan.in/wp-content/uploads/2022/03/Finance-Act-2022-Finance-Ministry-Budget-2022-Taxscan.jpg "[BREAKING] Finance Ministry Notifies Finance Act, 2022: Know the Key Changes [Read Act]")
Finance Bill 2022 provides Clarification on Deduction on Payment of Interest only on Actual Payment [Read Finance Bill]
The Finance Bill, 2022 has provided the Clarification regarding deduction on payment of interest only on actual payment. Certain taxpayers are claiming deduction under section 43B on account of...
![Finance Bill 2022 provides Clarification on Deduction on Payment of Interest only on Actual Payment [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Finance-Bill-2022-Interest-Actual-Payment-Income-Tax-Deduction-Taxscan.jpeg "Finance Bill 2022 provides Clarification on Deduction on Payment of Interest only on Actual Payment [Read Finance Bill]")
Finance Bill, 2022: Commissioner (Appeals) can impose Penalty in cases involving Undisclosed Income post-Search proceedings
The Finance Bill, 2022 has proposed to amend the provisions of Sections 271AAB, 271AAC and 271AAD of the Income Tax Act in order to empower the Commissioner of Income Tax (Appeals) to impose...
![Budget 2022 proposes Amendments in Faceless Assessment and Scheme [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Faceless-Assessment-and-Scheme.jpg "Budget 2022 proposes Amendments in Faceless Assessment and Scheme [Read Finance Bill]")
Reduction of Goodwill from Block of Assets to be considered as ‘Transfer’: Finance Bill, 2022 amends Provision [Read Finance Bill]
From the assessment year 2021-2022, goodwill of a business or profession is not considered as a depreciable asset and there would not be any depreciation on goodwill of a business or profession in...
![Reduction of Goodwill from Block of Assets to be considered as ‘Transfer’: Finance Bill, 2022 amends Provision [Read Finance Bill]](https://www.taxscan.in/wp-content/uploads/2022/02/Finance-Bill-2022-Reduction-of-Goodwill-Budget-2022-Budget-scan-Budget-session-taxscan-1.jpg "Reduction of Goodwill from Block of Assets to be considered as ‘Transfer’: Finance Bill, 2022 amends Provision [Read Finance Bill]")