Investment planning is an essential aspect of financial management, especially for middle-class families....
1. Basic Concepts
Firm: Partnership firm registered under Partnership Act, 1932
LLP: Limited Liability...
These sections govern how notices, summons, orders, and other communications must be served by the Income...
Provident Fund Scheme is a welfare scheme for the benefit of the employees. Under this scheme, certain...
As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under...
When income is clubbed under Sections 60-65 of the Income Tax Act, it is taxed under the same head as...
Section 139AA was introduced in the Income Tax Act, 1961, with effect from July 1, 2017, to make it mandatory...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...
Section 10(10CC) of the Income Tax Act, 1961 deals with the taxation of non-monetary perquisites provided...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Section 10(24) of the Income Tax Act provides a tax exemption for certain types of income earned by registered...
1. Legal Basis and Purpose
Section 203Amandates obtaining a 10-digit alphanumeric TAN for entities deducting/collecting...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Applicable to: Individuals & HUFs
This section provides tax relief for expenses incurred on the care...
Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, especially...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect ...