Section 68 is a critical anti-evasion provision that targets unexplained sums credited in a taxpayer’s...
Perquisites under Section 17(2) of the Income Tax Act, 1961, are additional benefits or amenities provided...
The Public Provident Fund (PPF) scheme is a very popular long-term savings scheme in India because of...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
New Section 44BBD:
Section 44BBD, introduced by the Finance Act 2025, is a presumptive taxation scheme...
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number issued by the...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Section 13 of the Income Tax Act, 1961 specifies situations where the tax exemptions under Section 11...
Purpose:
This section provides a tax exemption on payments made by an Indian company to a foreign entity...
Section 194LBC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 167 of the Finance Act, 2016 (Chapter VIII) governs the furnishing of statements for the Equalisation...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Section 198 of the Income Tax Act, 1961 establishes a fundamental principle that any tax deducted at...
Short Answer: No, the Annual Value (AV) or Net Annual Value (NAV) of a property cannot be negative under...
1. Litigation management when in an appeal by revenue an identical question of law is pending before...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...