An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Certain BCD exemptions entries under S No. 50/2017-Customs dated 30.6.2017 and other notifications are...
Here’s a detailed breakdown of the tax rates on long-term capital gains (LTCG) for assets not covered...
GST Audit under Section 65 of the CGST Act, 2017 is conducted by the tax authorities to verify the correctness...
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
Under the Income Tax Act, 1961, the right to claim a refund depends on who has paid the excess tax and...
Section 285BA of the Income Tax Act, 1961, mandates specified entities to report high-value financial...
Under the Income Tax Act, 1961, certain transactions or scenarios are treated as “deemed profits” and...
Overview
Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
The Income Tax Act, 1961, mandates taxpayers to submit certain documents, statements, and disclosures along...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Applicable to: Businesses engaged in collecting/processing biodegradable waste
This section provides...
1. Introduction to Section 80CCD
Section 80CCD of the Indian Income Tax Act, 1961, provides for deductions...
Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...