Income tax laws in India provide various deductions and exemptions to taxpayers, helping them reduce...
Applicable to: Developers of Affordable Housing Projects
This section provides a 100% tax exemption on...
Here’s a structured table summarizing the penal provisions related to Tax Collected at Source (TCS) under Sections...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
1. Purpose of Rule 6G
Prescribes the forms and mannerfor submitting tax audit reports
Mandates the format...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
Section 194LD of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest income paid...
Section 59 deals with deemed income that becomes taxable under the head “Income from Other Sources” when...
The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where...
It was introduced under chapter VIII of Finance Act, 2016. This chapter came in to force from 1st June,...
Understanding Section 10(10)
Section 10(10) provides tax exemption on gratuity payments received by employees....
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
Overview of Section 10(6C)
Section 10(6C) provides a tax exemption to foreign companies on income received...
1. Overview
Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
Section 10(25A) of the Income Tax Act provides a complete tax exemption for any income of the Employees’...
Section 10(23FE) of the Income Tax Act provides a tax exemption for certain types of income earned by...
Section 10(12) of the Income Tax Act governs the tax treatment of withdrawals from a Recognised Provident...
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
GST Audit under Section 65 of the CGST Act, 2017 is conducted by the tax authorities to verify the correctness...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...