Income Tax

Demystifying Income Tax Act’s Section 43B(h): How Deductions for Payments to MSEs Work [FAQs]

Welcome to a deep dive into Section 43B(h) of the Income-tax Act, where we unravel the complexities surrounding deductions for payments to Micro and Small Enterprises (MSEs). Did you know that MSEs play a crucial role in the Indian economy,

Income Tax

Facing an Income Tax Notice? Here’s What You Need to Know and How to Respond

In recent times, the Income Tax Department has significantly ramped up its issuance of notices to taxpayers across India. These notices are being sent out for a multitude of reasons, ranging from discrepancies in income disclosure to cases of tax evasion spanning previous years.