Section 194LBB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
Section 49 specifies how the cost of acquisition of a capital asset is determined when it is acquired...
Section 10(23D) of the Income Tax Act provides a tax exemption for the income of certain mutual funds...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Overview of STCG under Section 111A
Short-term capital gains (STCG) arising from the transfer of equity...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Section 69D targets hundi transactions (an informal financial instrument) conducted without banking channels,...
Section 10(14) provides exemptions for certain special allowances granted to employees for specific purposes....
Section 16 allows three key deductions from gross salary income before computing taxable salary. These...
Section 10(6D) provides a tax exemption to non-residents (other than foreign companies) on income received...
Ministry of Finance
GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE
STANDARD REDUCTION INCREASED FROM...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
(1) Introduction to Section-72
Section 72, which deals with the carry forward and set off of business...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
Introduction
The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax...
1. Overview
Section 115BA provides a concessional tax rate of 22% (plus surcharge & cess) for new...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...