In the context of the Goods and Services Tax (GST), the term “non-supplies” refers to transactions...
In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
Section 234F of the Income Tax Act, 1961 imposes a late filing fee if an assessee fails to file their...
Section 54H of the Income Tax Act, 1961 in India provided for an extension of time for acquiring a new...
Section 206C of the Income Tax Act, 1961 mandates sellers to collect tax at source (TCS) from buyers...
1. Legal Definition (Section 2(14))
A capital asset means:
Property of any kind held by an assessee...
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Section 191 provides for situations where tax is not deducted at source (TDS) as required under other...
Section 244A of the Income Tax Act, 1961, governs the interest paid by the Income Tax Department to taxpayers...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
What is PAN?
Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Permanent Account Number (PAN) is a unique ten-digit alphanumeric code issued by the Income Tax Department...
Section 9, Income Accrue or Deemed to Accrue or Arise in India :
Section 9 describes the Incomes which...
Here’s a detailed explanation of tax relief under Section 89(1) read with Rule 21A of the Income Tax...
Here’s a detailed overview of Return of Income and Procedure of Assessment (Sections 139 to 154) under...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...