Purpose:
This section provides a full tax exemption on income earned by approved news agencies that operate...
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...
1. Legal Status of Default
Deductor becomes “Assessee in Default”for:
Failure to deduct...
Section 234B(3) deals with the recalculation of interest under Section 234B when the assessed tax is...
Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Section 10(23BBB)- Tax Exemption for income earned by the European Economic Community (EEC) in India
Section 10(23BBB) of the Income Tax Act provides a tax exemption for income earned by the European Economic...
S.O. 614(E).-In exercise of the powers conferred by sub-section (2) of section 168 of Finance Act, 2016...
Section 234G of the Income Tax Act, 1961, imposes a late fee on institutions, trusts, or funds that fail...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
1. Applicability
Section 56(2)(x) covers:
Cash gifts
Immovable property(land, buildings)
Movable property(jewelry,...
An approved research association refers to an organization that is primarily engaged in scientific research....
Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
Here’s a detailed explanation of Section 206CB: Processing of Statements of Tax Collected at Source...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
1. Purpose of Rule 6G
Prescribes the forms and mannerfor submitting tax audit reports
Mandates the format...
Section 10(30) of the Income Tax Act provides a tax exemption for subsidies received by tea growers and...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
Section 194Q of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by buyers to resident...
Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...