Retrenchment compensation is the amount paid to a workman (employee) at the time of termination of employment...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
Applicable to: Indian Resident Individuals (Inventors/Patent Holders)
This section provides tax relief...
Section 196D of the Income Tax Act, 1961 governs the Tax Deducted at Source (TDS) on income earned by Foreign...
INTRODUCTION-
In the realm of Goods and Services Tax (GST), credit and Debit notes play a pivotal role...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Under Section 139(4D) of the Income Tax Act, 1961, research institutions engaged in scientific, social,...
Tax Audit Forms
The Incomes prescribed two types of forms for tax audit:
Audit Report:
The audit report...
Section 245MA of the Income Tax Act, 1961, introduces a faceless dispute resolution mechanism for small...
Section 194H of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as commission...
When non-residents (NRIs/Foreign Investors) transfer shares/debentures of Indian companies, special tax...
Section 7 of the Income Tax Act, 1961, defines certain incomes that are deemed to be received in India,...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
1. Introduction to Section 70 –
The Indian Income Tax Act, 1961, provides various provisions for...
Here’s a detailed analysis of Section 271J of the Income Tax Act, 1961, which imposes penalties...
A recognized provident fund is a retirement savings scheme that is approved by the government. It is...
Concept:
Section 60applies when a person transfers only the right to receive income from an asset without...
Here’s a detailed breakdown of the penalties for failure to deduct or pay Equalisation Levy (EL) under Section...