The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee...
1. Who is Liable?
Every taxpayer(individuals, HUFs, companies, firms, etc.) whose estimated tax liability for...
Section 144A of the Income Tax Act, 1961, empowers the Joint Commissioner (JCIT) to intervene in pending...
Section 194Q of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by buyers to resident...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Form 10-IEA is a crucial document for taxpayers for AY 2024-2025 and onwards. It allows individuals and...
Section 10(23BBA) of the Income Tax Act provides a tax exemption for the income of any body or authority...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Overview of Section 10(6C)
Section 10(6C) provides a tax exemption to foreign companies on income received...
A Charitable and Religious Trust is a type of non-profit organization that is formed for the purpose...
The Budget Speech for 2025-26 by Finance Minister Nirmala Sitharaman, presented in Parliament, outlines...
Here’s a detailed explanation of the Procedure for Imposing Penalty under Section 274 of the Income Tax...
1. Dividend Declaration vs. Retained Earnings
Dividends:
Taxable in shareholders’ hands (10%...
Section 194E of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made to non-resident...
Under Section 139(4D) of the Income Tax Act, 1961, research institutions engaged in scientific, social,...
Section 44AD provides a presumptive taxation scheme for small businesses, allowing them to declare income...
Section 54D of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the compulsory...
The authority vested in officers for search and seizure is a crucial aspect of upholding tax laws and...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Section 10(23FB) of the Income Tax Act provides a tax exemption for income earned by a Venture Capital...