Table Showing How to Compute “Profits and Gains of Business and Profession” ((As per Sections 28 to 44D)
PARTICULARS AMOUNT (₹) REMARKS Gross Receipts (Sales/Fees) XXX Total business income Less: Cost...
Section 10(23FC)- Tax Exemption for Specific Types of income earned by a Business Trust
Section 10(23FC) of the Income Tax Act provides a tax exemption for specific types of income earned by...
Special Provisions for New Manufacturing Domestic Companies under Section 115BAB
Section 115BAB of the Income Tax Act, 1961 provides a concessional tax rate of 15% (plus surcharge &...
GST Registration- Latest Changes and Issues involved with Case Laws
The Goods and Services Tax framework has undergone significant transformations since its implementation...
Remuneration to Persons who are not Citizens of India [Section 10(6)]
Section 10(6) of the Income Tax Act, 1961 provides an exemption from income tax for certain income received...
Form and Manner of Furnishing Return of Income [Rule 12 of Income Tax Rules, 1962]
Rule 12 of the Income Tax Rules, 1962, prescribes the forms, conditions, and procedures for filing income...
Belated Filing of Application for Registration of a Charitable & Religious Trust
The Income Tax Act, 1961 allows charitable and religious trusts to apply for belated registration under Section...
Power to Withdraw Approval [Section 293C]
1. Overview Section 293C of the Income Tax Act, 1961 empowers the Central Government to withdraw approvals...
Physical Verification in GST Registration: An In-depth Analysis
Introduction The Goods and Services Tax (GST) registration process in India has seen a significant shift...
Mandating Acceptance of Payments Through Prescribed Electronic Modes [Section 269SU, 271DB]
Here’s a detailed analysis of Sections 269SU and 271DB of the Income Tax Act, 1961, which mandate businesses...
Section 80EEB: Deduction in respect of Purchase of Electric Vehicle
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Recent Changes in TDS Provisions- Latest Update
The Budget 2025 has introduced enhanced threshold limits for TDS, ensuring that smaller transactions...
Charge of Income Tax Section 4 Explained | AY 2027-28 Guide
Learn How Charge Of Income Tax Section 4 Functions Under The Income Tax Act, 1961. Understand Assessment...
[Section 218]: Assessee Deemed to be in Default
Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Section 10(10CC)- Tax Exemption on Perquisites Paid by Employer
Section 10(10CC) provides a unique tax benefit where certain perquisites paid by employers are exempt...
A Exemption of certain income received by a Specified Fund [Section 10(4D)]
Under Section 10(4D) of the Income Tax Act, a specified fund is eligible for certain exemptions on its...
Computation of Capital Gain in Certain Special Cases
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
Tax Collection at Source (TCS) - Lower Rate Provisions [Section 206C (9), (10), (11) and Rules 37G and 37H]
Here’s a structured overview of Collection of Tax at Lower Rate under Section 206C(9), (10), (11)...
Capital Gain in case of Zero-Coupon Bonds on its Maturity and Redemption
Zero-coupon bonds, also known as deep discount bonds, are fixed-income securities that do not pay periodic...
Highlights of The Union Budget 2024-25 - Press Release by PIB
Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2024-25 Posted On: 23 JUL 2024 1:17PM by PIB Delhi The...
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