1. Key Features of Section 69A
Objective: Targets unexplained money, jewellery, or assetsfound in possession...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
The Faceless Appeal Scheme, 2021, introduced via Notification No. 139/2021 dated 28th December 2021,...
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
A. Basic Conditions for Section 11 (Income from Property Held for Charitable/Religious Purposes)
Registration...
A Post Office Savings Account is one of the most popular and accessible savings accounts in India.
The...
1. Provisions of Section 79 not to apply In case of Strategic Disinvestment of Public Sector Companies...
Applicable to: Individuals & HUFs
Section 80C is one of the most popular tax-saving sections, allowing...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
Goods and Services Tax (GST) in India is a comprehensive, multi-stage, destination-based tax that is...
Under Section 234C of the Income Tax Act, taxpayers are generally required to pay advance tax in instalments....
Section 54GB of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Understanding Section 10(10)
Section 10(10) provides tax exemption on gratuity payments received by employees....
1. Purpose of Rule 6G
Prescribes the forms and mannerfor submitting tax audit reports
Mandates the format...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
Section 234A(3) of the Income Tax Act, 1961, deals with interest payable when an assessee fails to file...
1. Statutory Framework
Section 5 defines the scope of total income based on the taxpayer’s residential...
Section 168 of the Finance Act, 2016 (Chapter VIII) governs the processing of statements furnished under...
Under Explanation 1(iii) to Section 115JB(2), companies can deduct the lower of:
Brought forward losses(as...