Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Section 115JB(2) mandates that the Statement of Profit & Loss (P&L) for MAT computation must...
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
This Trust Deed is made and executed on this [Date] day of [Month], [Year] at [Place] by:
SETTLOR:
Name:...
1. Set-Off Rules for Current Year Losses
Intra-head adjustment (Section 70):
Business losses can be...
Perquisites under Section 17(2) of the Income Tax Act, 1961, are additional benefits or amenities provided...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
Section 17(3) defines “profits in lieu of salary” as payments received by an employee in...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 194G of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on commission or remuneration...
1. Source of the funds or any other sum provided by the lender to the borrower and credited in hooks...
Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
The taxation of dividends in India has undergone significant changes over the years. This article aims...
Circular No. 01/2025 [F. No. 500/05/2020/FT&TR-II] Dated 21st January, 2025
Government of India
Ministry...
(1) Conditions to be satisfied for applicability of Section 112A [Section 112A(1)]:
Notwithstanding...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
Where any person receives at any time during any previous year any money or other assets under an insurance...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...