The following benefits are taxable for all employees, irrespective of their salary or designation. These...
1. Legal Basis
Proviso to Section 206C(3): Requires sellers/collectorsto submit a statement of TCS collected...
Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes
New Delhi,...
Here’s a detailed breakdown of tax-free perquisites applicable to all employees under the Income Tax...
To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting...
Note:
(a) “Basic Customs Duty (BCD)” means the customs duty levied under the Customs Act, 1962.
(b)...
Applicable to: *Farmer Producer Companies (FPCs) registered under Companies Act, 1956/2013*
This section...
Key Rule:
Section 61 (taxation of revocable transfers) does NOT applyif the transfer is irrevocable...
1. What is Section 282A?
Section 282A mandates proper authentication of all income tax notices, orders,...
An Association of Persons (AOP), whether incorporated or not, is treated as a `person` under section...
Section 10(1) of the Income-tax Act, 1961 exempts agricultural income from income-tax. However, net agricultural...
Section 194Q of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made by buyers to resident...
Section 25 of the Income Tax Act lays down a specific disallowance: certain types of interest payments...
Section 10(19) of the Income Tax Act provides an exemption for the family pension received by the family...
Section 72A of the Income Tax Act, 1961, provides exceptional relief for companies undergoing restructuring...
Here’s a detailed analysis of Section 278AB of the Income Tax Act, 1961, which empowers the Principal...
Section 153 prescribes strict deadlines for completing assessments, reassessments, and recomputations under...
Section 158AA of the Income Tax Act, 1961 (inserted via Finance Act, 2015) provides a mechanism to prevent...