Section 115JB(4) of the Income Tax Act, 1961, mandates that companies liable for Minimum Alternate Tax...
Section 264B of the Income Tax Act, 1961, pertains to the faceless effect of orders passed under the...
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
Under the Goods and Services Tax (GST) regime in India, certain banking-related services are either exempt...
Section 10(23BBC) of the Income Tax Act provides a tax exemption for the income of the SAARC Fund for...
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...
Section 54 of the Income Tax Act, 1961 provides tax exemption on long-term capital gains (LTCG) arising...
Objective: To discourage large cash transactions and promote digital payments.
1. Key Provisions of Section...
1. Legal Basis
Section 206C(6A)empowers tax authorities to impose penalties under Section 221 on sellers...
Section 44ADA of the Income Tax Act, 1961 provides a simplified presumptive taxation scheme for eligible...
When income is clubbed under Sections 60-65 of the Income Tax Act, it is taxed under the same head as...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
1. Legal Provision
Section 206C(4)ensures that the buyer (collectee) receives credit for the TCS amount...
Section 115BAB of the Income Tax Act, 1961, was introduced by the Finance Act, 2019, to provide a lower...
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Section 63 defines what constitutes a revocable transfer for the purposes of Section 61. It clarifies...
Applicable to: Individual taxpayers
This section provides a deduction for interest paid on loans taken...
1. Overview
Section 115BBD provided a concessional tax rate of 15% (plus surcharge and cess) on dividends...
Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...