Section 10(34A) of the Income Tax Act provides a tax exemption for shareholders on income received from...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
Explanation (iii) to Section 48 of the Income Tax Act, 1961, defines the indexed cost of acquisition for...
(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual or HUF...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
1. Making changes or Correction in PAN data
Suppose an applicant needs to change or correct a data on...
Under Section 56(2)(ib) of the Indian Income Tax Act, 1961, income from winnings is subject to taxation....
Section 10(23C) of the Income Tax Act provides tax exemption to certain funds, institutions, universities,...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
Death-cum-Retirement Gratuity is an important financial benefit provided to employees in India. It is...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
INTRODUCTION-
In the realm of Goods and Services Tax (GST), credit and Debit notes play a pivotal role...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 242 of the Income Tax Act, 1961, clarifies that a refund claim cannot be used to challenge the...
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...
The Supreme Court of India’s decision in the case of Chief Commissioner of Central Goods and Services...
Concept:
Section 61states that if an asset is transferred in a revocable manner, any income from that...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
The Tonnage Tax Scheme is a special taxation regime introduced under Chapter XII-G (Sections 115V to...