Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
When it comes to retirement planning, superannuation funds play a crucial role in providing financial...
1. Purpose of Section 115JAA
Allows companies to claim creditfor excess MAT paid (when MAT > normal...
Purpose:
This section provides tax exemption to professional associations (like medical councils, bar...
Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, especially...
1. Legal Requirement
Section 206C(5): Mandates that every seller/collectormust issue a TCS certificate...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Section 144 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to determine a taxpayer’s...
Section 10(23ED) of the Income Tax Act provides a tax exemption for income received by an Investor Protection...
1. Firm to be Assessed as Firm
Essential conditions prescribed under section 184 of the Income-tax Act,...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
A scrutiny (regular) assessment under Section 143(3) is a comprehensive evaluation of a taxpayer’s return...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
Section 144B introduces a technology-driven, faceless assessment scheme to eliminate human interface,...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Section 194B of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from games...