Tax Exemptions for Funds/Institutions of National Importance [Section 10(23C) & Rules 2C/2CA]

Here’s a detailed explanation of Section 269SS of the Income Tax Act, 1961, which governs the mode of accepting loans, deposits, and specified sums: 1. Key Provisions…

Here’s a detailed explanation of Section 269T of the Income Tax Act, 1961, which governs the mode of repaying loans, deposits, or specified advances: 1. Key Provisions of…

Objective: To discourage large cash transactions and promote digital payments. 1. Key Provisions of Section 269T 1. Prohibited Transactions (Cash Limit: ₹2 Lakhs or More) No…

To promote digital transactions, the Income Tax Act mandates certain businesses to compulsorily accept payments via prescribed electronic modes. Here’s a breakdown of Sections 269SU (requirement) and 271DB (penalty for…

Section 281 empowers the Income Tax Department to declare certain asset transfers as void if made during pending tax proceedings or before tax recovery notices are served, unless specific…

Section 281B of the Income Tax Act, 1961, deals with the Provisional Attachment of Property to Protect Government Revenue during the pendency of certain income…

These sections govern how notices, summons, orders, and other communications must be served by the Income Tax Department to taxpayers. Proper service ensures legal validity in assessments,…

Section 283 of the Income Tax Act, 1961, provides special rules for serving notices when: A Hindu Undivided Family (HUF)is partitioned, A firm/LLP/companyis dissolved, or A taxpayer dies, leaving legal heirs. 1.…

Section 284 of the Income Tax Act, 1961, governs how notices, orders, or summons must be served when a business is discontinued. This ensures tax authorities can still…

1. What is Section 282A? Section 282A mandates proper authentication of all income tax notices, orders, and documents to ensure they are legally valid. This prevents fraudulent…