(A) In the case of every Individual or Hindu Undivided Family (HUF)
(A1) If the individual...
The Income Tax Appellate Tribunal (ITAT) derives its adjudicatory powers from Section 254 of the Income...
Section 115JB mandates that companies calculate Minimum Alternate Tax (MAT) based on book profits (derived...
Section 192A of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on premature withdrawals...
TDS on Salary (Section 192) and TDS on Provident Fund (Section 192A) are provisions under the Income...
Interest on Non-resident (External) Account (NRE) is exempt from income tax in India under Section 10(4)(ii)...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Introduction:
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power...
Ministry of Finance
HIGHLIGHTS OF THE UNION BUDGET 2024-25
Posted On: 23 JUL 2024 1:17PM by PIB Delhi
The...
Section 80G of the Income Tax Act, 1961 provides provisions for claiming deductions on donations made...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Sukanya Samriddhi Account is a Government of India backed saving scheme targeted at the parents of girl...
Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
Under Section 139(4B) of the Income Tax Act, 1961, political parties in India are mandatorily required to...
Section 10(23FF) of the Income Tax Act provides a targeted capital gains exemption for non-residents...
Voluntary Retirement Scheme (VRS) is a mechanism used by companies to reduce their workforce by offering...
Section 10(2) of the Income Tax Act, 1961, provides a tax exemption for sums received by a member of...
1. Basic Concepts
Firm: Partnership firm registered under Partnership Act, 1932
LLP: Limited Liability...