Tax Ready Reckoner – Direct and Indirect Taxes with Tax Ready Reckoner

Blog Orders, Circulars & Notifications

Removal of Difficulty Order in respect of ‘Vivad se Vishwas Scheme 2024’- ‘08/2025’

Notification No. 08/2025 [F. No. 370153/01/2025-TPL] Dated 20th January, 2025 MINISTRY OF FINANCE (Department...

Press Release by PIB- Income Tax Management

PIB Press Release

CBDT relaxes provisions of TDS/TCS in the event of death of deductee/collectee before linkage of PAN and Aadhaar-(Press Release by PIB)

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi,...

Amendments Relating to Customs Duty Exemptions OR Concessions Being Allowed to Lapse under Finance (No-2) Bill-2024

Budget & Finance

Amendments Relating to Customs Duty Exemptions / Concessions Being Allowed to Lapse with effect from 30.9.2024 under Finance (No.2) Bill, 2024.

Certain BCD exemptions entries under S No. 50/2017-Customs dated 30.6.2017 and other notifications are...

Tax Amendments-Finance Bill 2022

Amendments relating to Disallowance of the Expenditure in Respect of Exempt Income – by The Finance Bill 2022

1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...

Section 16 - Deduction from Salary Income

Salaries

Section 16 – Deductions from Salaries

So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...

Income Tax Concept

EXEMPTED INCOMES [Section – 10, 10AA, 11 to 13A]

1. Agricultural Income [Section 10(1)] As per Section 10(1) of the Income Tax Act, agricultural income...

Blog GST Articles Knowledge Base

Special Procedure to be followed by Manufacturer of Certain Goods under GST

Introduction- The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...

Business or Profession

Deemed Profits Chargeable to Tax as Business Income

What are the Deemed Profits and how they chargeable to Tax as Business Income 1. Recovery against any...

Knowledge Base

Investment in National Pension Scheme (NPS)

National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...

Income Tax Concept

Exemption of income of a non-resident by way of royalty or interest on account of lease of an aircraft paid by a unit of an International Financial Services Centre (IFSC) [Section 10(4F)] [Inserted W.e.f. A.Y. 2022-23]

Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...

Deductions

Section 80P: Deduction in respect of Income of Co-operative Societies

Understanding of Section 80P Section 80P of the Income Tax Act, 1961 provides a deduction in respect...

Income Tax Concept

Exemption in respect of certain income of wholly owned subsidiary of Abu Dhabi Investment Authority and of Sovereign Wealth Fund [Section 10(23FE)]

Section 10(23FE) of the Income Tax Act provides an exemption in respect of certain income of wholly owned...

Knowledge Base

Unexplained Cash Credits, Investments, Money, Etc. [ Section 68 TO 69D]

1. Unexplained Cash Credits [Section 68] Where any sum is found credited in the books of an assessee,...

Knowledge Base

Taxation of ESOPs (Employee Stock Option Plan) in India and Abroad

Employee Stock Option Plan (ESOP) has gained popularity as a tool for employee retention, especially...

Blog GST Articles Knowledge Base

Inspection, Search, and Seizure Powers of Tax Authorities under Section 67 of the CGST Act, 2017

Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...

Amendments Relating to Direct Taxes under Finance (No-2) Bill-2024

Budget & Finance

Amendments relating to Direct Taxes under Budget 2024-25 (Annexure to Part B)

(A) Providing Tax Relief A.1 Substantial relief is proposed under the new tax regime with new slabs and...

Income Tax Concept

Exemption of Capital Gains on Compensation received on Compulsory Acquisition of Agricultural Land situated within Specified Urban Limits [Section 10(37)]

Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation...

Tax Amendments-Finance Bill 2022

Amendments relating to Disallowance of the Expenditure in Respect of Exempt Income – by The Finance Bill 2022

1. Clarification in respect of Disallowance under Section 14A in absence of any Exempt Income during...

Blog GST Articles Knowledge Base

A Closer Look at GST Refund Issues

INTRODUCTION- The Goods and Services Tax (GST) system has revolutionized taxation in India, streamlining...

Set Off or Carry Forward of Losses

Special Provisions of Set Off of Losses in case of an Individual or HUF who has opted to be Taxed as per Provisions of Section 115BAC

Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...

1 2 3 … 18