The Income Tax Law in India is a complex and ever-changing set of regulations that govern the taxation...
Certain BCD exemptions entries under S No. 50/2017-Customs dated 30.6.2017 and other notifications are...
Start-ups in India can benefit from significant tax exemptions under Section 80-IAC of the Income-tax...
Long-term capital gain arising on the transfer of any capital asset being land or building or both is...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
1. Enabling the Commissioner (Appeals) to levy Penalty under Section 271AAB. 271AAC and 271AAD of the...
Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
Political parties play a crucial role in any democratic society. They serve as the voice of the people,...
Applicable to: Individuals
This section allows a deduction for contributions made to approved pension...
Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security...
A. Basic Conditions for Section 11 (Income from Property Held for Charitable/Religious Purposes)
Registration...
Section 9A (Investment Fund Participation Rules):
Indirect investments by Indian residents in offshore...
1. Key Features of Section 69
Objective: Targets unexplained investments(e.g., property, gold, shares)...
Here’s a detailed table summarizing the tax treatment of Provident Fund (PF) contributions, interest,...
An Income Tax Survey is a legal procedure under Section 133A of the Income Tax Act, 1961, where tax authorities...
1. Overview
Under Section 210(1) of the Income Tax Act, 1961, taxpayers liable for advance tax must voluntarily...
1. Legal Basis
Section 206C(3): Mandates deposit of Tax Collected at Source (TCS)to the Central Government...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
Section 244A of the Income Tax Act, 1961, governs the interest paid by the Income Tax Department to taxpayers...