Section 194K of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on income distributed...
[Section 46A] : Capital Gains on Purchase by Company of its Own Shares or Other Specified Securities
(1) Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of...
Here’s a detailed explanation of Section 78(2) regarding carry forward and set-off of losses in...
Introduction-
The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments...
Section 15 of the Income Tax Act, 1961 defines what constitutes taxable salary income and specifies the...
Section 10(6) of the Income Tax Act, 1961 provides tax exemptions for certain types of remuneration received...
Section 206C of the Act provides for tax collection at source (TCS) on business of trading in alcoholic...
1. Primary Responsibilities of Deductor
Tax Deduction at Source:
Must deduct correct % as per Income...
In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within...
Tax incentives to International Financial Services Centre
International Financial Services Centre (IFSC)...
Education is an essential aspect of personal and professional growth. However, pursuing higher education...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
Compensation received by an individual or their legal heirs in the event of a disaster is governed by...
Section 43B of the Income Tax Act, 1961 is a crucial provision that disallows certain expenses unless...
1. Understanding the Principle of Mutuality
The principle of mutuality relates to the notion that a person...
Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Section 80DD of the Income Tax Act in India provides a deduction for individuals or Hindu Undivided Families...
Section 10(12A) of the Income Tax Act, 1961 provides that any amount received by an individual from the...