In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export...
Applicable to: All Individual & HUF Taxpayers
This section caps the total deductions available under...
Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility...
“Deemed profits” are amounts that aren’t traditional business income, but are still taxed as business...
Section 10(10CC) of the Income Tax Act, 1961, deals with the tax treatment of non-monetary perquisites...
INTRODUCTION:
Form 15CA and Form 15CB are essential documents under the Income Tax Act, 1961, for foreign...
INTRODUCTION-
The Goods and Services Tax (GST) is a comprehensive and multi-stage tax system that aims...
Section 264A of the Income Tax Act, 1961, introduced by the Taxation Laws (Relaxation and Amendment)...
Introduction
In the world of business and finance, it is not uncommon for companies to convert their...
1. Allowances- Income under the head Salaries
Allowance is a fixed monetary amount paid by the employer...
Accommodation provided to the employee may be—
(i) unfurnished
(ii) furnished
Further, such...
Here we discuss all the Provisions towards Computation of Capital Gain in certain Special Cases and the...
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...
Concept:
Section 61states that if an asset is transferred in a revocable manner, any income from that...
Section 139(4) of the Income Tax Act, 1961, allows taxpayers to file a belated return if they miss the...
1. [Section 56(2)]: List of Incomes included under ‘Income from Other Sources’
There are many incomes...
Applicable to: Individuals & HUFs (for self or dependent relatives)
This section provides tax relief...
Section 242 of the Income Tax Act, 1961, clarifies that a refund claim cannot be used to challenge the...
Section 22 of the Income Tax Act, 1961, defines when and how income from house property becomes taxable.
1....
An Electoral Trust is a unique entity that plays a crucial role in the political funding of political...