Applicable to: *Individuals aged 60+ years (including NRIs)*
This section provides higher tax relief...
The Companies Act, 2013 outlines various penalties and offences that can be imposed on companies and...
Applicable to: Banks/Financial Institutions operating in IFSCs (e.g., GIFT City)
This section provides 100%...
We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and...
Section 194DA of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on payouts from life...
Unrealised rent refers to rental income that is due but not received from a tenant. The Income Tax Act,...
With the increasing concerns about climate change and the need to reduce pollution, there has been a...
Under the Employees’ Provident Fund (EPF) scheme, employers are required to contribute to a Recognised...
Section 10(6BB) of the Income Tax Act, 1961 provides a tax exemption to foreign governments or foreign...
Leave encashment refers to the amount received by an employee in exchange for unused leave balance at...
As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions:
The...
Yes, a loss can arise under “Income from House Property” due to high interest on home loans or low...
1. Overview of Section 58
Section 58 specifies expenses that cannot be deducted while computing taxable...
Section 234A(4) of the Income Tax Act, 1961, deals with the adjustment of interest when there is a subsequent revision,...
Section 218 of the Income Tax Act, 1961 deals with situations where a taxpayer is considered to be in...
Section 54GA of the Income Tax Act, 1961, provides tax exemption on capital gains when a business relocates...
Order No. [F. No. 225/235/2024/ITA-II] Dated 31st January, 2025
MINISTRY OF FINANCE
(Department of Revenue)
Order...
The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating...
Section 194-I of the Income Tax Act, 1961, mandates Tax Deducted at Source (TDS) on rent payments exceeding...
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi,...