Provisions and Amendments Relating to “Simplification and Rationalisation” under Finance (No.2) Bill, 2024.
1. Introduction of Block Assessment Provisions in cases of Search under Section 132 and Requisition under...
GST on Health Care Services, Hospital Room Rent & Other Hospital Services
Under the Goods and Services Tax (GST) regime in India, healthcare services and hospital room rent are...
Section 133A: Income Tax Survey Powers - (Power to Conduct Surveys – A Preventive Enforcement Tool)
A survey under Section 133A of the Income Tax Act, 1961 is a legal procedure allowing income-tax authorities...
Comprehensive Analysis of Notification No. 12/2024–Central Tax
The Central Board of Indirect Taxes and Customs (CBIC) has released Notification No. 12/2024–Central...
Tax on Long-Term Capital Gains (LTCG) Under Section 112A
Overview of Section 112A Section 112A of the Income Tax Act, 1961 governs the taxation of long-term capital...
FORM 3CD: Explanation & Applicability
Tax Audit Forms The Incomes prescribed two types of forms for tax audit: Audit Report: The audit report...
(Section 157A)-Faceless Rectification, Amendments and Issuance of Notice or Intimation
Overview Section 157A of the Income Tax Act, 1961, was introduced to empower the Central Government to...
Accumulation of Income in Excess of 15% of the income earned [Section 11(2) and Rule 17]
Charitable and religious trusts or institutions registered under the Income Tax Act, 1961, are generally...
Exemption of the Family Pension received by the family members of Armed Forces (including para-military forces) Personnel killed in action in certain circumstances [Section 10(19)]
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
TDS on Rent [Section 194I]
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
[Section 194LC]: TDS on Interest from Indian Company/Business Trust to Non-Residents
Section 194LC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on interest payments...
Return of Income and Procedure of Assessment [Section 139 to 154]
Here’s a detailed overview of Return of Income and Procedure of Assessment (Sections 139 to 154) under...
Speech on Indirect Taxes (Part-B) of Nirmala Sitharaman, Minister of Finance, July 23, 2024. (Budget 2024-2025)
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics...
Interest Payable to Assessee [Section 244A]
Section 244A governs the payment of interest on income tax refunds to assessees. Below is a detailed...
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC)-Press Release by PIB
Ministry of Finance CBDT issues clarification in respect of Income-tax clearance certificate (ITCC) It...
Interest Incomes which are Exempt under Section 10(15)
Interest incomes which are exempt under section 10(15) could be explained with the help of the following...
[Section 194-IC]: TDS on Payments Under Joint Development Agreements (JDAs) referred to in Section 45(5A)
Section 194-IC of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on monetary payments...
TDS on Income Payable "Net of Tax" [Section 195A]
Section 195A of the Income Tax Act, 1961, governs scenarios where the payer agrees to bear the tax liability on...
Section 10(25)- Tax Exemptions for income earned by various Retirement-Related Funds
Section 10(25) of the Income Tax Act provides tax exemptions for income earned by various retirement-related...
Intimation of Loss [Section 157 of the Income Tax Act, 1961]
Section 157 deals with the communication of losses determined by the Assessing Officer (AO) to taxpayers....
1 2 3 46
Scroll to Top