Section 140A mandates taxpayers to self-assess their income, calculate tax liability, and pay any outstanding...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
Section 80U of the Income Tax Act provides relief to individuals with disabilities by allowing them to...
Retirement benefits such as pension, gratuity, provident fund, and leave encashment are taxed differently...
Here’s a detailed explanation of the taxability of dividends under Section 56(2)(i) as “Income...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Section 10(14) provides exemptions for certain special allowances granted to employees for specific purposes....
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
Section 92 of The Income Tax Act 1961, states that any income, expenditure interest & allocation...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
In the realm of tax enforcement, the power of inspection, search, and seizure plays a pivotal role in...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
1. Basic Concepts
Firm: Partnership firm registered under Partnership Act, 1932
LLP: Limited Liability...
Section 139B of the Income Tax Act, 1961, allows taxpayers to file their income tax returns through authorized...
When it comes to investing in mutual funds, it is important to understand the various tax implications....
(A) Providing Tax Relief
A.1 Substantial relief is proposed under the new tax regime with new slabs and...