1. Section 80-IAC: Deduction in respect of Eligible Business or Eligible Start Up
Understanding of Section...
The Goods and Services Tax (GST) Act is a comprehensive legislation that governs the taxation of goods...
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Under Section 17(2) of the Income Tax Act, 1961, certain perquisites are taxable for all employees, regardless...
Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for long-term...
Here’s a detailed explanation of Section 173 (Penalty Not to Be Imposed in Certain Cases) under the Equalisation...
Section 153 prescribes strict deadlines for completing assessments, reassessments, and recomputations under...
Section 10(23BBD) of the Income Tax Act provides a tax exemption for the income of the ASOSAI-SECRETARIAT—that...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
Tax on Non-Agricultural Income with partial Agricultural Income
As already discussed, there is no tax...
Here’s a structured breakdown of the types, definitions, and residential status of companies under the Income...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Section 44AA of the Income Tax Act, 1961, mandates certain taxpayers to maintain books of accounts, while Rule...
Under Section 237 of the Income Tax Act, 1961, the following persons are entitled to claim a refund of...
Applicable to: DPIIT-recognized startups (Private Companies/LLPs)
This section provides a 100% tax deduction...
Under Section 139(4A) of the Income Tax Act, 1961, charitable and religious trusts/institutions must...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Introduction-
The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...