As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily...
1. Provision by the employer of services of a Sweeper, a Gardener, a Watchman or Personal Attendant...
![Permanent Account Number (PAN)[Section 139A and Rule 114]](https://incometaxmanagement.in/wp-content/uploads/2023/11/Permanent-Account-Number-PAN-Features-Image.png)
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
Provident Fund (PF) is a social security scheme in India that provides financial assistance to employees...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
National Pension System (NPS) is a retirement benefit Scheme introduced by the Government of India to...
List of all Other Deductions which are specified under section 36 of the Indian Income Tax Act,1961,...
![[Section 56(2)]: List of Incomes included under ‘Income from Other Sources’](https://incometaxmanagement.in/wp-content/uploads/2023/09/Specific-Incomes-Includes-Section-562.png)
There are many incomes which are taxable under the head ‘Income from Other Sources’. However, section...
Gratuity is a significant part of an employee’s remuneration package. It is a payment made by an employer...
Note:
(a) “Basic Customs Duty (BCD)” means the customs duty levied under the Customs Act, 1962.
(b)...
1. Provision inserted under Clause ( c ) of explanation to Section 10(4D) applicable w.e.f. 2022-23
As...
Tax on distributed income of domestic company for buy-back of shares
Special provisions relating to tax...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Is one of the most well-known investment schemes offered by the India Post. While the scheme is open...
The Post Office has been a trusted place for depositing and transacting with money. This is especially...
Understanding the intricacies of advance tax and self-assessment tax is crucial for both compliance and...
1. Income Tax Law
An understanding of the Income-tax law requires a study of the following:
(I) ...
![Residential Status of an Individual [Section 6(1) - 6(1A)]](https://incometaxmanagement.in/wp-content/uploads/2023/11/Residential-Status-of-an-Individual-Section-61-61A.jpg)
An individual may either be a:
(a) Resident in India; or
(b) Deemed to be Resident In India...
Amendment of section 9.
110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter...
Understanding of Section 56(2)(i)
In India, the taxation of dividends is governed by the provisions of...