1. Definition of ‘Transfer’ [Section 2(47)]
A transfer includes:
Sale, exchange, or relinquishment
Compulsory...
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment...
Tax Treatment of Partly Agricultural and Partly Non-Agricultural Income
Tax Treatment of on Composite...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Section 194LA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made as...
1. Importance of Residential Status
Residential status determines:
Which incomes are taxable in India...
Section 154 of the Income Tax Act, 1961, allows the Assessing Officer (AO), Commissioner (Appeals), or...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
Section 10(4) of the Income Tax Act, 1961 in India provides an exemption for certain types of interest...
(1) Unit Linked Insurance Policies (ULIPs) have gained popularity as a dual investment-cum-insurance...
Allowances form a significant part of salary income and are classified into three categories for tax...
Section 10(23EE) of the Income Tax Act provides a tax exemption for specified income of a Core Settlement...
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...
Pension is a periodic payment made to an employee after retirement. Under Section 17(1)(ii) of the Income...
The authority vested in officers for search and seizure is a crucial aspect of upholding tax laws and...
To avail tax exemption under Section 11, a charitable or religious trust must satisfy the following mandatory...