In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
Section 9, Income Accrue or Deemed to Accrue or Arise in India :
Section 9 describes the Incomes which...
(1) When a company goes into liquidation, it is important to understand the implications it can...
This section provides tax exemptions on certain types of interest income earned from specified bonds,...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
The residential status of a company is a crucial factor in determining its tax liability in India. Section...
Provisions and Amendments Relating to “Goods and Service Tax (GST)” under Finance (No.2) Bill, 2024.
Note:
(a) CGST Act means Central Goods and Services Tax Act, 2017
(b) IGST Act means...
Applicable to: Individual authors/researchers (Indian residents)
This section provides tax relief on royalty...
1. Fundamental Principle
TDS Credit Mechanism: Any tax deducted at source (TDS) is treated as:
Payment...
Purpose:
This section provides full tax exemption on certain allowances received by:
Members of Parliament...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
An approved research association refers to an organization that is primarily engaged in scientific research....
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Purpose:
This section provides a full tax exemption on income earned by scientific research associations that...
Learn How To Calculate Your Income Tax Liability On Total Income Under The Income Tax Act, 1961. Discover...
When it comes to dealing with various processes and procedures, understanding the time limits, forms,...
Here’s a detailed breakdown of Penalty under Section 271DA of the Income Tax Act, 1961, for failure to...
Understanding of Section 80D
Section 80D of the Income Tax Act provides individuals with a deduction...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Section 74A of the Income Tax Act, 1961, provides specific rules for the treatment of losses incurred...