Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in...
Section 194-IA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payments made for...
Section 153 prescribes strict deadlines for completing assessments, reassessments, and recomputations under...
1. What is equalization levy (EL)?
This is a tax leviable on consideration received or receivable by...
Applicable to: All businesses (except freelancers)*
This section provides 30-60% additional wage cost...
The Income Tax Act, 1961, provides a special procedure for assessments in search cases to ensure thorough...
The Goods and Services Tax (GST), a comprehensive indirect tax system, has been a transformative step...
Retirement planning is crucial for employees to ensure financial security post-retirement while minimizing...
So far, we have discussed what are the various incomes, allowances and perquisites which are exempt and...
Section 79 of the Income Tax Act, 1961, imposes strict restrictions on the carry-forward and set-off...
Leave encashment refers to the amount received by an employee in exchange for unused leave balance at...
1. Covered Entities (Section 10(23C))
The following enjoy 100% tax exemption on their income:
Funds/institutions...
1. Key Features of Section 69B
Objective: Targets underreported investmentswhere actual expenditure...
Trade unions play a crucial role in protecting the rights and interests of workers. They negotiate with...
1. Legal Definition
Primary Responsibility: The person legally obligated to deduct TCS/TDS under the...
The provisions relating to Direct Taxes for the Financial Year 2025-26 in India include several key changes...
Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit...
Exemption of amount received by an individual as Loan under Reverse Mortgage Scheme [Section 10(43)]
Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into...
Special Economic Zones (SEZs) have emerged as key drivers of economic growth and development in many...
Under Section 261 of the Income Tax Act, 1961, an appeal can be filed before the Supreme Court of India against...