Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Section 28 of the Income Tax Act, 1961 defines the incomes chargeable under the head “Profits and...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Applicable to: Manufacturing, SMEs, and select service providers
This section provides partial to full...
Under Section 10(18) of the Income Tax Act, certain awardees and their family members are eligible for...
The Tonnage Tax Scheme is a special taxation regime introduced under Chapter XII-G (Sections 115V to...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
1. Who is Exempt?
Resident Individuals aged 60 years or above(Senior Citizens).
Condition: Must not...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Section 194A mandates Tax Deducted at Source (TDS) on interest payments (excluding interest on securities)...
Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Purpose:
This section provides a tax exemption on family pension received by the widow or children of...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
(1) When a company goes into liquidation, it is important to understand the implications it can...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...