As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Section 10(10B) of the Income Tax Act in India provides an exemption for compensation received by employees...
1. Overview
Section 115BBD provided a concessional tax rate of 15% (plus surcharge and cess) on dividends...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021) .
Purpose: Encourage tax compliance...
1. Unexplained Cash Credits [Section 68]
Where any sum is found credited in the books of an assessee,...
Section 73 of the Income Tax Act, 1961, governs the treatment of speculation business losses, imposing...
Section 147 empowers the Assessing Officer (AO) to reassess or recompute income that has escaped taxation in...
Section 220(2) of the Income Tax Act, 1961, imposes interest @ 1% per month on unpaid tax demands if...
1. Section 70: Inter-Source Adjustment – Set Off of Loss from one Source against Income from another...
Key Rule
When an individual converts their self-acquired property into HUF (Joint Family) property, any...
When non-residents (NRIs/Foreign Investors) transfer shares/debentures of Indian companies, special tax...
Section 25A of the Income Tax Act, 1961, governs the tax treatment of arrears of rent (unpaid rent recovered...
Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
Section 55(1)(b) of the Income Tax Act, 1961, defines the cost of improvement for capital assets, which...
Under the Income Tax Act, 1961, individuals and Hindu Undivided Families (HUFs) can claim exemptions...
Agricultural income holds a special position in India’s taxation system, with specific exemptions...
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
Under Section 10(2) of the Income Tax Act, 1961, the sum received by a member from a Hindu Undivided...
The article you’re viewing discusses significant changes to the regulations governing Charitable Trusts...