Here’s a structured breakdown of the types, definitions, and residential status of companies under the Income...
Here we describe all the Provisions towards Calculation of Tax on Short-term Capital Gains under Section...
1. When Does This Apply?
When the taxpayer calculates their own advance tax liability(not based on the...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 292B of the Income Tax Act, 1961, protects income tax proceedings from being invalidated due...
Notified special allowance is an allowance that has been notified by the Central Government under Section...
The term “actual cost” in the context of asset acquisition plays a pivotal role in income...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
Section 73A of the Income Tax Act, 1961, governs the treatment of losses incurred in specified businesses under Section...
Section 219 of the Income Tax Act, 1961 governs how advance tax payments are credited against a taxpayer’s...
Here’s a detailed breakdown of tax-free perquisites applicable to all employees under the Income Tax...
Arrears of salary refer to payments received by an employee for work done in previous financial years...
Section 80GG of the Income Tax Act allows individuals to claim deductions for the rent paid when they...
as per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Retrenchment compensation received by an employee due to termination of employment is partially exempt from...
Section 36 of the Income Tax Act, 1961 lists specific deductions allowed against business income, in...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes...
Section 10(23F) of the Income Tax Act provided a tax exemption for dividends and long-term capital gains...
Section 230 of the Income Tax Act, 1961 mandates certain individuals to obtain a Tax Clearance Certificate...