Income arising to a shareholder on account of Buy Back of Shares is governed by Section 10(34A) of the...
Under Section 248 of the Income Tax Act, 1961, a person who denies liability to deduct tax at source...
The Finance (No. 2) Bill, 2024, has introduced several significant amendments to the capital gains tax...
Circular No. 03/2025 [F. No. 275/107/2024-IT(B)] Dated 20th February, 2025
Government of India
Ministry...
1. Basic Concept of HUF
An HUF (Hindu Undivided Family) is a separate legal entity for tax purposes,...
Certain professionals and government employees receive special allowances that are fully or partially...
Understanding Section 10(8)
Section 10(8) provides tax exemption for income received by:
Foreign technicians/experts
Employees...
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
1. Introduction to Loss Carry Forward
When losses cannot be fully adjusted in the same financial year,...
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
The Central Board of Direct Taxes (CBDT) has issued Notification No. 2 of 2024, which addresses the time...
The authority vested in officers for search and seizure is a crucial aspect of upholding tax laws and...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Understanding Section 10(8A)
Section 10(8A) provides full tax exemption on remuneration received by:
Non-Indian...
Introduction
The people of India have reposed their faith in the government led by the Hon’ble Prime...
Section 55(2) of the Income Tax Act, 1961, provides crucial rules for determining the cost of acquisition of...
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...