Section 151A empowers the Central Government to implement a faceless, technology-driven scheme for reassessing...
Section 194BB of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on winnings from horse...
Section 10(23FBB) of the Income Tax Act deals with taxation of business income earned by unit holders...
Applicability:
Section 234A(1) of the Income Tax Act, 1961, levies interest if an assessee fails to file their...
1. Rationalization of provisions of TDS on sale of immovable property [Section 194-IA amended w.e.f....
Introduction
Section 54B of the Income Tax Act, 1961, provides an exemption on capital gains arising...
Here’s a detailed explanation of Section 271K of the Income Tax Act, 1961, which deals with penalties...
Section 197 of the Income Tax Act, 1961 provides a mechanism for taxpayers to obtain certificates for...
1. Business [Section 2(13)]
Business includes:
Any trade, commerce, or manufacturing activity;
Any adventure...
Amendment of section 5.
147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter...
Section 54F of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 54G of the Income Tax Act, 1961, provides tax exemption on capital gains arising from the transfer...
Section 40A of the Income Tax Act, 1961 specifies certain expenses or payments that cannot be deducted while...
Section 10(6B) of the Income Tax Act, 1961, provides a tax exemption to non-residents (including foreign...
Section 57 of the Income Tax Act, 1961, permits specific deductions while computing taxable income under...
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
1. Overview
Introduced: Finance Act 2021 (effective from 1st July 2021).
Purpose: Imposes higher Tax...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
Section 54EC of the Income Tax Act, 1961, provides tax exemption on long-term capital gains (LTCG) from...
Section 132B governs how assets seized under Section 132 or requisitioned under Section 132A are to be utilized,...