Section 115JB ensures that companies with substantial book profits but low or no taxable income (due...
Section 145 of the Income Tax Act, 1961 governs the method of accounting for computing taxable income...
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Section 242 of the Income Tax Act, 1961, clarifies that a refund claim cannot be used to challenge the...
Section 67 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the inspection, search,...
Overview of Section 10(6C)
Section 10(6C) provides a tax exemption to foreign companies on income received...
1. Basic Rule for HUF Residency
A HUF is Resident in India if:
“Control and management of its affairs...
Section 281B of the Income Tax Act, 1961, deals with the Provisional Attachment of Property to Protect...
Section 194LBA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on specific income...
1. What is PAN?
PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number...
The National Savings Certificate (NSC) is a fixed Income Investment scheme that you can open with any...
Here’s a detailed explanation of the penalty for failure to furnish the Equalisation Levy (EL)...
Capital assets are classified into different categories under the Income Tax Act, 1961, each with unique...
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the...
Introduction-
The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the...
Section 234B(1) of the Income Tax Act, 1961, imposes interest if an assessee either:
Fails to pay advance...
In India, the Income Tax Act provides various exemptions to taxpayers to encourage investments and promote...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
The Income Tax Appellate Tribunal (ITAT) is the second appellate authority under the Income Tax Act,...