Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment...
Interest income is one of the common sources of income for individuals and businesses alike. When it...
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Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
A. Legislative Changes in Customs Laws
A.1 Amendments in the Customs Act, 1962
(i) Section 28 DA is being...
Circular No. 07/2024 [F. No.173/25/2024-ITA-I] Dated 25th April, 2024: A Detailed Analysis
The Central...
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Every person shall quote his permanent account number in all documents pertaining to the transactions...
Special Provisions for computing Business income in certain cases on the basis of Estimated Income Method...
Enrolment Duration
Expenditure Duration
Beneficiaries
Central Outlay
Years
(lakhs)
(Rs....
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Chargeability/Scope/Meaning of Income under the head “Profits and Gains of Business and Profession” under...
A. Changes in Basic Customs Duty (to be effective from 24.07.2024)
S. No.
Chapter, Heading, sub-...
Section 10(12B) of the Income Tax Act, 1961 provides tax exemption to partial withdrawals from the National...
Section 9 of the Income Tax Act, 1961 is an important provision that deals with the taxation of income...
The Indian Income Tax Act, 1961, governs the taxation of various sources of income in India. One such...
Section 43B- Deductions Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
1. Perquisites [(Section 17(2)]- Income under the head Salaries
Section 17(2) of the Income-tax Act,...
Section 10(4F) specifically applies to income earned by a non-resident from a unit of an International...
The tax treatment of interest, premium, or bonus on specified investments is governed by Section 10(15)...
Under the Income Tax Act, individuals and Hindu Undivided Families (HUFs) have the option to be taxed...
Section 54GB of the Income Tax Act, 1961 in India provides for the exemption of long-term capital gains...